On July 31, Corning rose 6.35% in regular trading, trading at 144.29 USD/share, with turnover of $68.83 million, extending its rebound following a cumulative decline of over 20% across the prior two trading sessions.

On the news front, UBS, Oppenheimer, and several other institutions cut their price targets but unanimously maintained buy ratings, emphasizing that the prior selloff was excessive. UBS lowered its target to $196 from $228, while Oppenheimer reduced its target to $200 from $230. Both firms stressed that the long-term growth thesis driven by AI data center fiber optic demand remains intact, and that current valuations have become more attractive after the sharp correction. UBS noted that Corning's strategy of locking in more long-term offtake contracts may limit near-term margin expansion but provides greater stability in earnings growth. The prior selloff was triggered by Q3 core sales guidance of $4.9-5.0 billion, with the midpoint slightly below the consensus estimate of $5.0 billion, against a backdrop of nearly 100% year-to-date gains and an elevated valuation of approximately 44x PE.

(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.)