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Corning Inc. Message Board

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  • disconnected6060842 disconnected6060842 Apr 25, 2011 12:53 PM Flag

    Ticonderoga Maintains a 'Sell' on Corning (GLW)

    Yes. They were wrong during that entire run. I hadn't seen their numbers forecast before though, it makes their $15 price target seem a little odd.

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    • Their SELL rating doesn't make much sense, but a couple of other of their comments do - Corning is absolutely hyping Gorilla Glass, and while this is a nice product, it is targeted in the near future at small size displays, and since glass is sold by the square meter, that won't result in the huge sales they hype - so will be good and maybe add 10% to sales, but if as profitable as LCD glass (which is highly unlikely with all of its costs to strengthen), that only give a couple of bucks to stock price. LCD sales won't be growing with high gas prices, major customer in Japan down for a while, so that will hurt. Maybe those two things balance. The rest of Corning's businesses have lots of sales, but not a lot of profit. So overall, I would expect Corning to sit around $20, which is why my sentiment, for what it's worth is a hold. If it gets to $17-$18 I'll buy more, and if it gets to $22-23 I'll sell and buy on the next dip.

 
GLW
24.22-0.51(-2.06%)Jan 28 4:01 PMEST

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