2/8/2010-Following investor day at Corning Incorporated (NYSE:GLW), Citigroup Equity Research issued a note to clients early Monday reiterating its Buy rating on the stock, saying that their positive glass market view remains intact and Citigroup remains buyers of the stock at this highly attractive entry point.

Citigroup analyst Jim Suva said, "Remain Buyers of GLW and are making no changes to our model. Quarterly glass expectations are reset following Investor Day & we look for GLW shares to meaningfully outperform when larger market concerns regarding global macro issues & China subside. We view GLW view of 1Q panel volume peak as overly conservative. China risks/opportunities now fully understood & expectations for solar are more realistic. GLW trades at undemanding 10.3x NTM consensus EPS, or a scant 0.7x relative to the S&P 500. We see valuation support at 0.6x S&P 500. In our view, glass cycle has significantly longer to run - demand remains healthy, channel inventories lean (as evidenced by continued firm panel pricing), & we believe glass supply/demand is tipping toward tightness. In short, we believe recent volatility has shaken out weak hands & provides attractive entry points for those who can look beyond near term noise & market perturbations."

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