Corning rated Buy with 10-15% upside on AI optical demand, solar growth, and Life Sciences innovation.

Corning is rated a Buy with an expected 10-15% upside driven by strong demand for AI-related optical products, growth in its solar segment supported by U.S. tariffs and domestic capacity expansion, and innovative Life Sciences products like Velocity Vials. The solar segment benefits from long-term customer commitments covering 80% of capacity for five years. Velocity Vials could generate $1.5–3 billion annually if they capture 20% of the global market, supported by partnerships and licensing. Corning's competitive advantage is strongest in inter-datacenter fiber, backed by long-term contracts, significant capital expenditures funded by customer commitments, and a healthy balance sheet. The company’s recent partnership with Nvidia highlights its role in advancing optical connectivity technology.