Forecast Of The Day: Corning’s Carrier Network Revenue

by Trefis Team
+30.04%
Upside
37.95
Market
49.35
Trefis
GLW
Corning
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What?

Trefis expects Corning’s (NYSE:GLW) Carrier Network Revenue – which includes the sales of fiber optic products and telecom equipment – to rise from about $2.7 billion in 2020 to $3.37 billion in 2021 and $3.64 billion in 2022.

Why?

While the segment faced some headwinds in 2020, due to the impact of Covid-19, sales are likely to recover sharply driven by the demand from 5G wireless networks.

So What?

We think Corning stock is undervalued at levels of about $41 per share, given that the company is expected to see a big rebound in revenues this year, driven by strength across its optical communication, display, and Gorilla Glass segments.

See Our Complete Analysis For Corning

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