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Fly News Breaks for May 1, 2019
GLW
May 1, 2019 | 06:37 EDT
As previously reported, BofA/Merrill analyst Wamsi Mohan upgraded Corning to Buy from Neutral and raised its price target to $40 from $38 saying the pullback in shares provides a buying opportunity. Mohan said Corning's growth profile has improved and expects gross profits to scale with near-term investments, and operating leverage to drive incremental margin expansion. Further, the analyst believes glass pricing could surprise to the upside, sees lower capital intensity, and expects the mid-June investor day to provide a positive update.
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