The stock of LCD star Corning (GLW), first discussed on April 30, 2010, at a price of $19.65, has pulled back to about $21 after pushing $24, but investors should just view that retreat as an opportunity to scoop up shares of a premiere company.

Corning's revenue will probably surge 10% to 12% in 2011, after a 24% jump in 2010, as the recovery in the display sector continues.

Corning, the world's largest manufacturer of liquid crystal displays, is well-positioned to benefit from increased demand for flat-panel televisions, as well as computer monitors.

LCD star Corning Inc. (GLW) has pushed above $20 resistance to trade near $22, and the outlook for investors remains encouraging. I first discussed Corning here on April 30, 2010, at a price of $19.65.

Look for Corning's revenue to rise 10 to 12% in 2011, after a 24% jump in 2010, as the recovery in the display sector continues.

Analyst Upgrades

• Aetna (AET) to buy from neutral at Goldman.
• Kellogg (K) to buy from neutral at UBS.
• PetSmart (PETM) to outperform from market perform at JMP Securities.
• NetApp (NTAP) and Scripps Networks (SNI) to buy from hold at Wunderlich.
• Thoratec (THOR) to buy from hold at Auriga.
• ArcelorMittal (MT) to overweight from neutral at HSBC.
• Bristol-Myers (BMY) to outperform from neutral at Cowen.
• Eaton Vance (EV) to neutral from sell at Ticonderoga.
• Adtran (ADTN) to buy from underperform at BofA/Merrill.

LCD giant Corning Incorporated (GLW), first discussed on April 30, 2010, at a price of $19.65, appears to be starting to reward investors' patience, after meandering for the second half of 2010, hence the trade has been maintained.

Look for Corning's revenue to surge 25% to 30% in 2010, then rise 8% to 12% in 2011, as the recovery in the display sector continues.

Corning, the world's largest manufacturer of liquid crystal displays, is well-positioned to benefit from increased demand for flat-panel televisions, as well as computer monitors. Rising China-based demand, ample room for market share gains in other emerging market countries, a solid balance sheet, and cost cuts add to the positive story. Also, margins should rise to about 42% in 2011.

Analyst upgrades:

• Verizon (VZ) to conviction buy from buy at Goldman.
• CSX (CSX) to outperform from market perform at Wells Fargo.
• AK Steel (AKS) to overweight from neutral, as well as Lorillard (LO) and Fifth Third Bancorp (FITB) to neutral from underweight, at JPMorgan.
• Marathon Oil (MRO) to overweight from equal weight at Morgan Stanley.
• Corning (GLW) to buy from outperform at CLSA.
• Quest Diagnostics (DGX) to buy from hold at Jefferies and to outperform from sector perform at RBC Capital.
• Salesforce.com (CRM) to buy from neutral at Roth Capital.
• Baker Hughes (BHI) to buy from hold at Weeden and to outperform from neutral at Macquarie.
• Western Digital (WDC) and Seagate (STX) to buy from underperform at BofA/Merrill.

Corning (GLW - option chain) shares are rising today after the company said this morning that it expects Q4 LCD glass market volumes to be consistent with those from Q3. Previously Corning had forecast volumes to be flat or down slightly. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on GLW.

GLW opened this morning at $19.02. So far today the stock has hit a low of $18.89 and a high of $19.27. As of 12:15, GLW is trading at $18.94 up 0.30 (1.6%). The chart for GLW looks bullish and S&P gives GLW a positive 4 STARS (out of 5) buy ranking.

I first discussed Corning (GLW) on April 30, 2010, at a price of $19.65, and the shares continue to meander. But the calculation here is to maintain the trade. Even so, GLW is trying investors' patience.

Corning's shares should have exhibited some traction by now. Corning's revenue will likely surge 25% to 30% in 2010, then rise 7% to 10% in 2011, as the recovery in the display sector continues.

Corning Incorporated (GLW) issued Q3 numbers earlier today. The market decided to give the stock a boost after digesting the data, but results were somewhat mixed.

The press release says that adjusted profit increased over 20% to 51 cents per share. This was in comparison to last year's performance. On a sequential basis, per-share income actually declined 12%. Also, according to this summary from Briefing.com, expectations were set at 52 cents per share. If only the management team could have delivered an extra penny or two. Can't always happen, my investing friends.

Corning (GLW - option chain) shares are rising today after GLW CFO James Flaws told attendees at an investment conference this morning that he expects Q3 glass volume to be down about 5% from the second quarter due to an inventory correction. He added that the company expects glass pricing to remain at Q2 levels, LCD TV sales have remained strong outside the US, and all other business segments are on track or exceeding expectations in the third quarter. Finally, Flaws said GLW thinks it can reach $10 billion in sales in the next few years. GLW posted $5.4 billion in sales in 2009. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on GLW.

GLW opened this morning at $17.03. So far today the stock has hit a low of $17.03 and a high of $17.89. As of 12:05, GLW is trading at $17.88 up $1.07 (6.4%). The chart for GLW looks bullish and S&P gives GLW a positive 4 STARS (out of 5) buy ranking.

"In my view, Corning (GLW) shares are exceptionally cheap at a mere nine times current year and 2011 earnings," says environmentally-aware investing expert Brendan Coffey.

The editor of Cabot Green Investor explains, "Primarily, we're excited by the emergence of a technology invented in 1962 that languished without an appropriate market for 45 years until 2007: Gorilla glass.

The shares of Corning Inc. (GLW), first discussed on April 30, 2010 at a price of $19.65, have unexpectedly misbehaved this summer, falling from a high at/near $21 to about $15, but I still like the shares. Here's why:

Look for Corning's revenue to surge 25-30% in 2010 as the recovery in the display sector continues.

Corning, the world's largest manufacturer of liquid crystal displays, is well-positioned to benefit from increased demand for flat-panel televisions, as well as computer monitors. Rising China-based demand, ample room for market share gains in other emerging market countries, a solid balance sheet, and cost cuts add to the positive story.

Analyst Upgrades

• Wells Fargo believes Intuitive Surgical (ISRG) da Vinci procedures remain under penetrated and that consensus estimates are too low. The firm upgraded shares to outperform from market perform and raised its valuation range to $340 to $360.
• Cantor Fitzgerald upgraded Westamerica (WABC) to buy from hold due to the company's FDIC-assisted acquisition of Sonoma Bank and what the firm sees as Westamerica's defensive nature. The firm set a $62 target on the stock.
• Oppenheimer upgraded Corning (GLW) to outperform from perform based on valuation and the belief that downward revisions have peaked. The firm has a $20 target on the stock.
• Quality Systems (QSII) was upgraded to outperform from market perform at JMP Securities.
• OpenTable (OPEN) and Windstream (WIN) were upgraded to buy from neutral at BofA/Merrill.

In between the world of tech stocks and companies that employ technology is Corning Inc. (GLW). In between the world you see on hand held devices, computers, and flat screen televisions and the world within is Corning's Gorilla Glass.

Oddly this is not a new product; it was developed 48 years ago. It is thin, light weight, very strong and scratch resistant. It seems that new uses are being discovered every day, and those uses are in products that are in high growth mode. Today there is an expanding array of touch screens and flats-screens.

How big is this opportunity, and will it ignite Corning stock value?

Analyst Upgrades

• Bernstein upgraded Corning (GLW) to outperform from market perform based on Gorilla glass prospects and valuation. The firm raised its price target to $22 from $21.
• RBC Capital upgraded Beckman Coulter (BEC) two rating levels to outperform from underperform, citing valuation and customer checks that indicate high retention rates. The firm upped its target for shares to $65 from $55.
• Credit Suisse upgraded Canadian Pacific (CP) to outperform from underperform. The firm expects Canadian Pacific to have stronger-than-average Q2 volume growth, improved productivity and notes leverage to growth in Asia, among other reasons for the upgrade. The firm raised its target to $75 from $59.
• Freeport McMoRan (FRX) was upgraded to overweight from neutral at HSBC.
• Solera (SLH) was upgraded to strong buy from buy at Needham.
• Jefferies upgraded IPC The Hospitalist Co. (IPCM) to buy from hold.

Analyst Upgrades

• Bernstein upgraded Boeing (BA) to outperform from market perform, citing valuation. The firm also raised its price target to $81 from $80.
• Wells Fargo upgraded Thomas & Betts (TNB) to outperform from market perform, citing valuation and an expected recovery in North American nonresidential construction.
• RBC Capital upgraded Susquehanna (SUSQ) to outperform from sector perform and has a $14 target on the stock. The firm thinks the stock's valuation is attractive as its decline in response to the European debt crisis and financial regulatory reform has been overdone.
• Priceline.com (PCLN) was upgraded to buy from hold at KeyBanc.
• Genzyme (GENZ) was upgraded to neutral from underweight at JPMorgan.
• RightNow (RNOW) was upgraded to overweight from market weight at Thomas Weisel.