Barclays analyst Tim Long initiated Corning with an Overweight rating and a price target of $35. The analyst says the Optical Communications sector is set to grow by over 5% over the next 2-3 years thanks to the development of 5G and data center trends, noting that the performance may be lumpy, but overall growth should be "solid" for several years. Long adds that Corning is adding to capacity to support increased demand. The analyst also points to greater penetration of dual-sided Gorilla Glass offsetting the flat market for handsets and sees potential for Corning's automotive glass to make a "meaningful" contribution to backlog as the new dedicated plant starts operations in Q3.