Oppenheimer Maintains Perform On Corning As Growth Challenges Looming in 2015
Oppenheimer analyst Andrew Uerkwitz maintained a Perform rating on Corning Inc (NYSE:GLW), following the company’s third-quarter results, posting revenues/EPS of $2.65B/$0.40 vs. Oppenheimer’sm$2.59B/$0.36 and Street’s $2.63/$0.38. No price target was given.
Uerkwitz said, “Our new FY15 estimates reflect 1% Y/Y revenue growth that includes sizable decline in Display segment offset by growth in Optical Communications, Environment, and Specialty Materials. We believe a declining Display segment will drag on GLW’s overall results as TV market enters a year of little excitement (no World Cup, no subsidies), which could offset much of the growth from other segments.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Uerkwitz has a total average return of 6.9% and a 63.2% success rate. Uerkwitz has a 9.2% average return when recommending GLW, and is ranked #830 out of 3350 analysts.