BofA Securities reiterated its "Buy" rating for Corning Inc. (GLW). The firm raised its price target to $243 from $223 on July 6, 2026.
BofA's optimistic outlook stems from strong demand for Corning's optical products. These products are crucial for artificial intelligence infrastructure buildout.
The bank highlighted Corning's long-term potential in advanced semiconductor packaging. This includes glass substrates. BofA expects these developments will not impact near-term results. However, the firm believes they support a higher future valuation for Corning. This prompted an increase in its earnings per share estimates for 2028.