Overview
- Shares of Corning rose 11.16% after a Zacks upgrade to Rank #2 (Buy) combined with UBS’s earlier Buy call backed by new industry checks.
- Zacks cited rising profit forecasts, noting the 2026 earnings estimate has increased 3.3% over three months to $3.10 per share.
- UBS, which kept a $171 price target on March 19 after the Optical Fiber Communications conference, reported a “seller’s market” for fiber with supply running behind demand.
- That supply squeeze supports higher pricing and steadier revenue for Corning’s optical-communications unit, though UBS heard mixed views on how fast fiber will replace copper inside AI server racks as Nvidia continues to fund both paths.
- Other firms recently raised targets as well, with Mizuho lifting Corning to $155 on April 2 and BofA setting $155 on March 23, reflecting broader confidence in an optical upcycle.