On August 3, Corning fell 3.15% in regular trading, trading at $137.445/share, with turnover of $195 million. Despite Truist upgrading the stock from Hold to Buy during the session, selling pressure continued to dominate.

Truist set a price target of $175, reduced from its prior $205, implying approximately 27% upside from the current level. Analyst Matthew Niknam noted that the core rationale for the upgrade centers on valuation returning to reasonable levels following a deep correction in July. Truist projects Corning's earnings per share will grow at a 30% compound annual rate through 2029. The stock had previously retreated roughly 50% from its June high after Q2 earnings revealed Q3 guidance that failed to exceed market expectations.

Multiple institutions including UBS and Oppenheimer have maintained bullish ratings while trimming price targets, emphasizing that the prior selloff was overdone and that long-term AI data center fiber demand remains intact.

(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.)