Jefferies analyst George Notter lowered his price target for Corning to $29.50 from $32 while maintaining a Hold rating on the shares. There's a good likelihood that Street expectations for Corning's Display business are too high, Notter tells investors in a research note. The analyst is concerned over excess supply chain inventory, "significant" new Chinese capacity entering the market and declining panel maker profitability. Further, he believes the pending ramp of Corning's two new Gen 10.5 facilities in China could weigh on corporate gross margins.