Argus analyst Jim Kelleher kept his Buy rating and $42 price target on Corning after the company lowered its Q3 outlook for optical communications and display units, forecasting display glass volume to decline at a high-single digit rate before normalizing in the first half of FY20. The analyst notes that the stock remains "attractive" as the company is taking steps to align costs with revised end-market expectations, with measures including capacity adjustments and a slower pace to its capital projects. Beyond the medium-term challenges, Kelleher adds that Corning is "well positioned" across all 5 of its market access platforms of optical communications, automotive access, display, personal mobile communications, and life sciences.