Post Time：Dec 28,2009Classify:Company NewsView：516
Thomas Weisel’s Ajit Patel late yesterday raised his estimates for Corning (GLW), which makes glass for LCD TVs and computer screens, on what appear to be signs of strong-sell through of LCD panels. He also raised his price target to $19 from $17.
For this quarter, Patel raised his sales and earnings projections to $1.45 billion and 44 cents per share from $1.43 billion and 43 cents per share, and for 2010, his projections go to $5.68 billion and $1.57 from $5.63 billion and $1.54.
Patel doesn’t offer much detail, except to say that with industry data showing November sales and pricing data were more benign than October, and with Corning on Dec. 9 raising its Q4 glass shipment projections, the rate of “sell through” of LCD panels “remain healthy.”
Corning shares this morning are up 16 cents, or .8%, at $19.42.
Source: blogs.barrons.comAuthor: shangyi
PrevRecycle Revolution gives the business to glass, plastics and other recyclables
Prices for 32-inch LCD TV panels may rise in January 2010Next
