On August 4, Corning rose 5.5% in regular trading, trading at $153.95/share, with turnover of $177 million, extending its prior rebound momentum.

On the news front, Truist Securities upgraded Corning from Hold to Buy, setting a price target of $175, which implies meaningful upside from current levels. The analyst noted that after Corning experienced approximately 45% of sharp pullback in July, its valuation has returned to reasonable levels. Truist projects earnings per share will grow at a 30% compound annual growth rate through 2029, with potential for the company to further raise long-term financial guidance.

Simultaneously, the U.S. optical communications sector staged a broad rally, creating strong sector linkage. Coherent surged over 11%, Lumentum gained over 10%, and Applied Optoelectronics also posted significant advances. Multiple institutions including UBS and Oppenheimer maintained bullish ratings on Corning despite trimming price targets, emphasizing that the prior selloff was overdone and that AI data center fiber demand remains a robust long-term growth driver.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)