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

We recently published 10 Stocks Outrunning the Market; 3 on a High. Corning Inc. (NYSE:GLW) was one of the best performers on Friday.

Corning soared to a new all-time high on Friday, as investors took heart from an analyst’s 28-percent price target upgrade for its stock.

At intra-day trading, Corning Inc. (NYSE:GLW) jumped to its highest price of $140.27 before paring gains to finish the session just up by 7.32 percent at $139.51 apiece.

In a market report, UBS raised its price target for Corning Inc. (NYSE:GLW) to $160 from $125 previously, while maintaining a “buy” recommendation.

This followed the company’s stellar earnings performance last year, with net income more than tripling to $1.596 billion versus only $506 million in 2024. Net sales grew by 19 percent to $15.6 billion from $13.1 billion year-on-year.

In the fourth quarter alone, net income increased by 26 percent to $540 million from $310 million, while net sales inched up by 3 percent to $4.2 billion from $3.5 billion.

Further buoying sentiment was Corning Inc.’s (NYSE:GLW) higher net sales growth outlook over the next two years, now at $11 billion in incremental annualized sales, versus $8 billion previously.

For this year alone, incremental annualized sales are targeted at $6.5 billion, up from its $6 billion outlook earlier.

The targets form part of what the company dubs as “Springboard plan”—a strategic multi-year initiative to drive growth between 2023 and 2028.

While we acknowledge the potential of GLW as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.