UBS Raises Corning (GLW) Price Target to $109, Maintains Neutral Rating

Core Insights - UBS raised the price target for Corning Incorporated (GLW) to $109 from $100 while maintaining a Neutral rating [1] - Corning reported core revenue of $4.27 billion in Q3 2025, exceeding management's forecast and showing a 14% year-over-year growth [1][2] - The optical communications segment was a significant driver of revenue, generating $1.65 billion, a 33% increase year-over-year [2] Financial Performance - Core revenue of Corning in Q3 2025 was $4.27 billion, surpassing the forecast of $4.2 billion [1] - The company experienced a 14% growth compared to the same period last year, accelerating from 12% growth in Q2 [1] - Optical communications revenue surged by 58%, driven by strong AI-related demand [2] Profitability - The optical communications segment contributed $295 million in net income, a 69% increase, benefiting from higher prices [2] - Optical communications accounted for more than half of the total core profit of $585 million [2] Industry Context - Corning develops and manufactures specialty materials based on glass, ceramic, and optical physics [3] - The growing importance of AI is highlighted by its significant impact on Corning's business performance [2]