Seeing the Light on Corning

S&P likes the fiber-optics giant's growth prospects and says the shares are undervalued

We believe Corning (GLW: $21) shares are materially undervalued, making the stock a compelling investment opportunity. We think the combination of high market growth potential in flat-panel display, fiber optics to the home, and substrates and filters for emissions-control manufacturers, along with the company's continued cost control initiatives, should lead to positive earnings growth and cash-flow generation in 2007.

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