Investing.com -- Truist Securities upgraded Corning Incorporated to Buy from Hold, saying the stock's roughly 45% pullback in July presents an attractive entry point, while lowering its 12-month price target to $175 from $205 to reflect higher discount rates and lower sector valuation multiples. The brokerage said the upgrade is driven by confidence that sustained AI data center investment, rising demand for optical networking products and expanding operating margins will fuel about 30% annual EPS growth between 2026 and 2029. It expects Corning's Optical and Solar businesses to underpin an 18% revenue CAGR through 2028, with long-term agreements with hyperscale customers providing greater earnings visibility. Truist said Corning's Optical segment, which accounts for about 45% of revenue, continues to benefit from AI infrastructure and fiber-to-the-home spending. Top of FormBottom of FormRelated articlesTruist upgrades Corning to Buy after pullback, sees AI demand driving upsideJPMorgan outlines ten strategic themes that could shape the outlook for 2026Morgan Stanley CIO survey: Why AI hype isn't boosting 2026 IT budgets