Corning (GLW) Hits All-Time High as Analyst Hikes PT by 28%

Core Insights - Corning Inc. (NYSE:GLW) reached an all-time high stock price of $140.27, closing at $139.51, reflecting a 7.32% increase due to a significant price target upgrade by an analyst [1] - UBS raised its price target for Corning to $160 from $125, maintaining a "buy" recommendation, following a strong earnings report where net income tripled to $1.596 billion and net sales grew by 19% to $15.6 billion year-on-year [2] - In Q4, Corning's net income rose by 26% to $540 million, with net sales increasing by 3% to $4.2 billion, and the company revised its net sales growth outlook to $11 billion in incremental annualized sales over the next two years [3] Financial Performance - Corning's net income for the previous year was $1.596 billion, up from $506 million in 2024, while net sales increased from $13.1 billion to $15.6 billion [2] - In the fourth quarter, net income increased to $540 million from $310 million, and net sales rose to $4.2 billion from $3.5 billion [3] - The company anticipates $6.5 billion in incremental annualized sales for this year, an increase from the previous outlook of $6 billion [3] Strategic Initiatives - The financial targets are part of Corning's "Springboard plan," a multi-year initiative aimed at driving growth from 2023 to 2028 [4]