Forecast Of The Day: Corning Display Technologies Revenue
What?
Corning (NYSE:GLW) Display Technologies’ revenue declined from $3.25 billion in 2019 to around $3.17 billion in 2020. Trefis expects the number to rise to $3.55 billion in 2021 and to around $3.84 billion in 2022.
Corning Display Technologies’ revenues primarily include sales of glass substrates for active-matrix liquid crystal displays (LCDs) manufactured by Corning.
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Why?
While growth was impacted in 2020 due to the Covid-19 pandemic, we expect long-term growth to be driven by higher capital investments and continued growth in consumer electronics demand.
So What?
We think the projected growth in Corning’s business isn’t fully priced into the stock yet. We value Corning at about $49 per share, about 30% ahead of the current market price.
See Our Complete Analysis For Corning
