Corning Climbs 9.8% on Rating, Cisco Deal
Corning
(GLW) - Get Corning Incorporated Report
was up 9.8% in late morning after
ABN AMRO
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started coverage with a buy rating and a 12-month price target of $114. Analyst Dave Kang wrote, "Corning has emerged as one of the premier players in the red-hot optical networking space."
Corning today announced it is joining with
Cisco Systems
(CSCO) - Get Cisco Systems Inc. Report
to make optical equipment for the Internet. Terms were not disclosed. Cisco was up 3.6%.
