Corning Could Hit $144 by End of 2026 - BofA Sees $10.3B Scale-Out Revenue as the Catalyst

"BofA's bull case centers on Corning's position inside the AI data center, specifically the "scale-out" layer connecting servers and GPUs with high-density optical fiber. BofA sizes the total scale-out revenue opportunity at $10.3 billion by 2030, nearly four times its current FY2025 estimate for Corning's scale-out revenues."

"Corning's Optical Communications segment posted full-year 2025 sales of $6.3 billion, up 35% year-over-year, with the enterprise data center portion growing 61% for the full year. This is durable, infrastructure-grade revenue tied to a decade-long AI buildout."

"BofA's EPS target of $2.42 by 2030 reflects operating leverage already visible in the financials. Core operating margin reached 20.2% in Q4 2025, up 390 basis points over two years, while adjusted free cash flow nearly doubled to $1.72 billion for full-year 2025."

Corning has delivered exceptional stock performance, rising 187% over the past year and currently trading near $130.07. Bank of America projects a $144 price target by end of 2026, significantly above Wall Street's consensus of $126.46. BofA's bull case centers on Corning's dominance in AI data center infrastructure, specifically high-density optical fiber connecting servers and GPUs. The firm estimates a $10.3 billion scale-out revenue opportunity by 2030, nearly four times current estimates, translating to $2.42 EPS. Corning's Optical Communications segment grew 35% year-over-year in 2025, with enterprise data center revenue surging 61%. Operating margins expanded 390 basis points to 20.2%, while free cash flow nearly doubled to $1.72 billion, demonstrating strong operational leverage and visible long-term growth runway.

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