Forecast Of The Day: Corning Specialty Materials Revenue
What?
Corning’s (NYSE:GLW) Specialty Materials revenue rose from $1.59 billion in 2019 to $1.88 billion in 2020. We expect revenues to rise to around $2.50 billion in 2021 and $2.70 billion in 2022.
Why?
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We expect sales to be driven primarily by the Gorilla Glass smartphone glass, which could also be adapted in new markets and products.
So What?
We think Corning stock is undervalued. We value the company at about $49 per share, about 37% ahead of the current market price.
See Our Complete Analysis For Corning
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