Flat Is In: Upgrade on Corning (GLW)
Corning's time has come.We believe now more than ever (Catablast! Media Group has been following Corning since November 2003) that Corning belongs in any growth portfolio worth its salt.
Corning (GLW) has become the world leader in next generation glass substrates for liquid crystal displays, or LCDs.
As demand for flat panel glass is expected to triple over the next 5 years, Corning is expanding to provide customers with premium quality LCD substrates.
We're loving the recent $600 million expansion plan in Taiwan.
That'll be Corning's second glass manufacturing plant in the region.
Corning already changed our lives twice - first with Edison's light bulb, then with all the fiber optic cable they planted to make the Internet possible.
Now, for a third time, Corning will enrich and remodel the way you see the world.
About a month ago, we published the following report:
As of today, we're upgrading Corning from our earlier Buy Rating to a Heavy Buy Rating with a $35 price target inside the next 12 months.There is NO WAY this former hi flier ($101 stock during the Internet gold rush) is going to sit complacently at $15.
Today, Corning is just a tad shy of hitting the $20 mark .Here's why.
LCD, or liquid crystal display.
It's the fancy technology in flat panel and plasma screen TVS.
You're buying the glass makers because unlike the manufacturers, the glass guys aren't a dime a dozen. That means no price wars, which means they don't get squeezed which means margins are left uncrippled.
AU Optronics (AUO) is another, albeit lesser-known player -- but Corning's product is better and there's still plenty of room for this baby to run.
A no brainer, instant double play BUY Rating On Corning.
Chart-wise, the stock's forming a new base, healthy for a stock that's already had a nice run up.
Get in and brace yourself for a double.
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