Recently, Corning Inc (Symbol: GLW) saw its shares rise above the average analyst 12-month target price of $47.38, trading at $49.03/share. When a stock reaches its target, analysts typically have two reactions: they may choose to downgrade based on valuation or adjust their price targets upward. This response can depend on significant business developments that are driving the stock higher. If the company’s outlook improves, it may warrant a higher target price.
Within the Zacks coverage universe, there are 13 analysts with targets for Corning Inc. While the average is useful, it’s important to remember that individual opinions vary. For example, one analyst set a target as low as $37.00, while another aims for $55.00, creating a standard deviation of $6.021.
The value in examining the average GLW price target lies in aggregating insights from multiple analysts rather than relying on a single perspective. With GLW trading above the average target price of $47.38/share, investors now have a chance to carefully evaluate Corning Inc. They must decide whether $47.38 represents just a temporary peak or if the stock has room to climb even higher. Below is a summary of the latest analyst ratings for Corning Inc:
Recent GLW Analyst Ratings Breakdown | ||||
---|---|---|---|---|
» | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
Strong buy ratings: | 8 | 8 | 8 | 6 |
Buy ratings: | 0 | 0 | 0 | 0 |
Hold ratings: | 4 | 4 | 4 | 6 |
Sell ratings: | 0 | 0 | 0 | 0 |
Strong sell ratings: | 0 | 0 | 0 | 0 |
Average rating: | 1.67 | 1.67 | 1.67 | 2.0 |
The average rating listed above ranges from 1 to 5, with 1 being a Strong Buy and 5 a Strong Sell. This article uses data from Zacks Investment Research via Quandl.com.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.