Corning Jumps to Record High as AI Optics Fuel Wall Street Split

Overview

• Corning shares reached an all-time high of $176.82, capping a year-long surge that lifted the company to a roughly $151 billion market value.
• Bank of America raised its price target to $186 with a Buy rating, and UBS kept a Buy at $171, citing strong demand for fiber gear used to wire AI data centers.
• JPMorgan downgraded the stock to Neutral while lifting its target to $175, saying today’s valuation depends on confidence in earnings projected out to 2028.
• Morgan Stanley increased its target to $140 and kept an Equal Weight rating, noting optical names have led the market and that nothing has yet undercut the bull case.
• Operational momentum includes a new optical cable plant in Hickory, North Carolina tied to a Meta supply deal valued at up to $6 billion, which supports Corning’s push to replace copper with fiber inside server halls.