Corning price target raised to $42 from $38 at BofA

BofA raised the firm’s price target on Corning to $42 from $38 and keeps a Buy rating on the shares after visited Corning’s headquarters to meet with leadership and the head of Optical Communications earlier this week. Corning emphasized its Springboard framework, in which the company expects to grow $3B-plus in annualized sales over the next three years driven by cyclical factors and secular trends, notes the analyst, who sees more content in end devices likely allowing Corning to grow revenues in excess of its end markets.