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Fly News Breaks for August 1, 2019
GLW
Aug 1, 2019 | 08:29 EDT
As reported previously, Susquehanna analyst Mehdi Hosseini downgraded Corning to Neutral from Positive. The analyst moved to the sidelines until he is convinced earnings and CAGR can exceed the earnings from the S&P500. He said until then, he cannot justify its premium valuation because he feels the company has recently failed to execute in managing its portfolio of diverse business units. Hosseini lowered his price target to $30 from $40 on Corning shares.
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