Corning Shares Up on LCD Glass Strength

Date: 16 August 2006
Source: Moneycentral.msn.com

Date: 16 August 2006

Shares of Corning Inc., which makes glass for LCD TVs, plus optical fiber, laboratory products and other items, climbed Tuesday after an analyst initiated coverage on the company.Credit Suisse analyst Michael R.

Walker initiated coverage with an "Outperform" rating and set a target price of $24, based on the company's leadership in the LCD display glass market.

"Corning is one of the few true beneficiaries of the mix shift to TVs in the LCD supply chain, which should enable growth and margin expansion in the display business to continue for several more years," Walker wrote in a note to investors.

Walker added that Corning's good relationships with original equipment manufacturers put it in a good position to keep profiting from the LCD business.

"All three primary end markets for Corning's LCD glass -- notebook PCs, desktop monitors, and flat-panel TVs -- are still enjoying strong growth on increasing market penetration and larger screen sizes," Walker wrote, adding that he expects the glass market to grow more than 20 percent a year at least through 2008.

The LCD panel market slowed in 2006 on an inventory glut, but Walker said he expects that to end this year.

Read the entire news on the source link below.
600450 Corning Shares Up on LCD Glass Strength glassonweb.com

See more news about:

Others also read

MORE...

Potters Industries Inc. Announces Price Increase For Metal Finishing and Impact Glass Bead Products
Potters Industries Inc., an affiliate of PQ Corporation, announced today that, effective February 15, 2007, the price on all Metal Finishing Glass Bead and Ground Glass product shipments will increase up to 3 cents a pound.
Lincoln Glass Celebrates 50th Year
Owners of Lincoln Glass in Newport, Dan and Elayne Mason, celebrated their 50th anniversary in the business this year. Dan's parents, John and Grace Mason, established Lincoln Glass in 1956 and oversaw day-to-day operations for 20 years.
Retail Architects Say Better-Looking Stores Mean Profits
Edward A. Shriver Jr., a Pittsburgh architect who works in retail store design, encourages architects and retail owners alike to "think outside the box," light years away from the designs that have dominated American retail architecture in recent decades.
Optical-Glass Firm Buys Camera Maker Pentax
Hoya Corp., Japan's largest optical glass maker, agreed to buy camera maker Pentax Corp. for 90.6 billion yen ($765 million) to add endoscopes and surgical scissors.
Mysterious Egyptian Glass Formed by Meteorite Strike, Study Says
Strange specimens of natural glass found in the Egyptian desert are products of a meteorite slamming into Earth between 100,000 and 200,000 years ago, scientists have concluded.
Business Of Glass Manufacturer Gecsat Down 16%
ZF.com reported that Tarnaveni (Romania)-based Gecsat, estimates an approximately 6.4 million-euro turnover for this year, a 16% drop against last year, when the company posted a 7.6 million-euro turnover.

Add new comment