Truist Cautious on Corning (GLW) Despite Strong AI and Cloud Spending Tailwinds

Corning Incorporated (NYSE:GLW) is included among the 13 Best Diversified Dividend Stocks to Buy Right Now.

On March 31, Truist initiated coverage of Corning Incorporated (NYSE:GLW) with a Hold rating. It set a $125 price target on the stock. The firm said networking and hardware companies are closely tied to rising AI and cloud spending. It pointed out that US hyperscaler capex alone is expected to reach around $700 billion in 2026. The analyst said the firm is taking a more selective approach to the group, given relatively higher valuations. It named Arista Networks (ANET), Cisco (CSCO), HPE (HPE), and Motorola Solutions (MSI) as its preferred picks.

On March 23, BofA raised its price recommendation on Corning to $155 from $144. It reiterated a Buy rating on the shares. The firm said the higher target reflects increased confidence in the optical cycle and greater content per GPU in scale-out deployments.

Corning Incorporated (NYSE:GLW) operates as a materials science company. It is organized into segments, including Optical Communications, Display Technologies, Specialty Materials, Environmental Technologies, and Life Sciences.

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