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It's Your Television, Stupid: GLW

We hit our call on LCD supplier Corning (GLW) nine ways to Sunday. No, make that 10 ways.

Just this past Saturday, we pounded the table on this stock:

"...we are reiterating our $30 dollar price target on shares with a twelve month outlook. We believe Corning is a stock analysts love (13 analysts and not one sell), but investors are sleeping on.

Corning is the company that brought you Pyrex and now wants to redefine your living room experience. The long term catalyst is the mushrooming flat panel TV/LCD business Corning is imbricated in....by axing off debt, improving gross margins, and reinventing it's revenue driver -- Corning has emerged from the telecom coma stronger than ever...."

Drumroll, please -- since our weekend call, the stock is up 20%.

20% in 3 days -- maybe we should have pounded the table harder.

Oh, and just in case you were worried about missing the train -- you still have time.

We found what Corning's CFO had to say earlier this week at a conference quite compelling:

"... the market for LCD television glass would be bigger in 2007 than the entire liquid crystal glass business in 2004 -- LCD glass accounted for about 35 percent of Corning's revenue and 75 percent to 80 percent of its profit last year...Corning has forecast about 41-percent growth in LCD glass shipments for the past several quarters..."

Corning's next stop is $34.

posted by Catablast! Media Group @ 6:00 AM