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Corning (GLW) Stock Surges 6% on UBS Price Target Boost Amid AI Fiber Demand

Corning (GLW) Stock Surges 6% on UBS Price Target Boost Amid AI Fiber Demand

Author:

Global Cryptocurrency

Published:

2026-02-21 09:41:02

18

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BTCCSquare news:

UBS analyst Joshua Spector raised Corning's price target to $160 from $125, maintaining a Buy rating. The revision reflects hyperscalers' 30-50% capex increases, with Amazon alone projecting $200 billion in infrastructure spending. Corning's $6 billion anchor agreement with Meta provides revenue visibility and funds new production capacity.

The emerging 'Scale Up' fiber market for server rack applications could triple current demand. UBS forecasts 21% annual sales growth and 30% EPS expansion through 2028, driven by hyperscale data center investments. Corning's midday trading spike underscores market confidence in fiber optics as AI infrastructure backbone.

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