Corning Hits Record $140.27 After UBS Boosts Price Target to $160
Corning shares jumped 7.32% to an intraday record of $140.27 after UBS raised its price target 28% to $160, maintaining a buy rating. The company reported 2025 net income of $1.596 billion on $15.6 billion sales and forecasted $11 billion in incremental annualized sales by 2028.
1. Record Share Price and Analyst Upgrade
Corning shares jumped intraday to a record $140.27 before closing up 7.32%, driven by UBS’s decision to increase the price target to $160 from $125 and maintain a buy rating. The 28% price target hike underscored heightened expectations for demand in AI data center fiber-optic cables and display technologies.
2. Full-Year 2025 Financial Performance
The company’s net income more than tripled to $1.596 billion from $506 million in 2024 on net sales growth of 19% to $15.6 billion. Fourth-quarter net income rose 26% to $540 million and sales climbed 3% to $4.2 billion, reflecting strength across specialty glass and optical networking segments.
3. Revised Sales Growth Outlook
Corning increased its incremental annualized sales target to $11 billion by 2028, up from $8 billion, while raising its 2026 target to $6.5 billion from $6 billion. These projections are central to the company’s multi-year Springboard plan aimed at driving revenue growth through 2028.