BUZZ-Citi raises PT on Corning after rising optical demand from hyperscalers

Reuters
09/24
BUZZ-Citi raises PT on Corning after rising optical demand from hyperscalers

** Citi raises PT on specialty glass maker Corning GLW.N to $93 from $72

** Brokerage sees GLW benefiting from increased demand for optical products as cloud companies build bigger AI clusters, needing more and faster fiber‑optic links

** Also expects company to benefit from this U.S.‑based solar-supply-chain activity via its exposure to that ecosystem and materials know‑how

** Twelve of 15 analysts rate stock "buy" or higher and three "hold"; median PT is $75 - data compiled by LSEG

** As of last close, stock up 70.2% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))

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