In a client note, Oppenheimer analyst Yair Reiner downgraded Corning shares to "Perform" from "Outperform" and removed a $21 price target, while lowering his rating of AU Optronics to "Underperform" from "Perform." 
Share:  <span class="sent">In a client note, Oppenheimer analyst <span class="analyst">Yair Reiner</span> downgraded <span class="company">Corning</span> shares to "Perform" from "Outperform" and removed a $21 price target, while lowering his rating of AU Optronics to "Underperform" from "Perform."</span> Tweet this 

By Eric Savitz Oppenheimer analyst Yair Reiner this morning turned cautious on the LCD panel sector. Reiner downgraded  Corning (GLW) to Perform from Outperform; he dropped AU Optronics (AUO) to Underperform, down from Perform "Our analysis suggests the LCD panel industry is in the final stages of a prolonged rebuild cycle that has helped significantly boost LCD LCD panel demand over the last 9 months," he writes "With the cycle likely to peter out in the next couple of months, we believe LCD panel shipments will need to reset during Q2 to a lower level more closely aligned with underlying sell through trends, particularly of TVs" Reiner contends that Q1 will be the peak , or near peak , for 2010 
Share:  <span class="sent">By Eric Savitz Oppenheimer analyst <span class="analyst">Yair Reiner</span> this morning turned cautious on the LCD panel sector. Reiner downgraded  Corning (<span class="company">GLW</span>) to Perform from Outperform; he dropped AU Optronics (AUO) to Underperform, down from Perform</span> "Our analysis suggests the LCD panel industry is in the final stages of a prolonged rebuild cycle that has helped significantly boost LCD LCD panel demand over the last 9 months," he writes "With the cycle likely to peter out in the next couple of months, we believe LCD panel shipments will need to reset during Q2 to a lower level more closely aligned with underlying sell through trends, particularly of TVs" Reiner contends that Q1 will be the peak , or near peak , for 2010 Tweet this 

Notablecalls: Oppenheimer's Yair Reiner & his people have done a pretty good job covering Corning over the past year 
Share:  <span class="sent">Notablecalls: Oppenheimer's <span class="analyst">Yair Reiner</span> & his people have done a pretty good job covering <span class="company">Corning</span> over the past year</span> Tweet this 

Notablecalls: Oppenheimer's Yair Reiner & his people have done a pretty good job covering Corning over the past year 
Share:  <span class="sent">Notablecalls: Oppenheimer's <span class="analyst">Yair Reiner</span> & his people have done a pretty good job covering <span class="company">Corning</span> over the past year</span> Tweet this 

Analyst Yair Reiner at Oppenheimer (NYSE: OPY) has maintained an Outperform rating for Corning Incorporated (NYSE: GLW). Oppenheimer believes that panel prices could decline meaningfully in the first quarter However, it believes that two factors put glassmakers in a better position; first, as glassmakers need to rebuild depleted inventories, they will not feel the need to dump any excess production, and second, near term glass capacity plans are relatively constrained Moreover, Corning Incorporated's view of 2010 seasonality reflects its interpretation of supply chain dynamics, and not concern over end demand 
Share:  <span class="sent">Analyst <span class="analyst">Yair Reiner</span> at Oppenheimer (NYSE: OPY) has maintained an Outperform rating for Corning Incorporated (NYSE: GLW). Oppenheimer believes that panel prices could decline meaningfully in the first quarter</span> However, it believes that two factors put glassmakers in a better position; first, as glassmakers need to rebuild depleted inventories, they will not feel the need to dump any excess production, and second, near term glass capacity plans are relatively constrained Moreover, Corning Incorporated's view of 2010 seasonality reflects its interpretation of supply chain dynamics, and not concern over end demand Tweet this 

He also sees a buying opportunity Bernstein Research analyst Jeff Evenson heard both bullish and bearish data points from Corning: Bullish: 2010 LCD volume forecast increased from old level of 12% 17% Management sees long term TV market growth accelerating to 6% 8% from 4% as replacement cycle for LCD exceeds that of CRT market Gorilla glass could be $1 billion market by 2013, up from $80 million in 2009, Bearish: LCD glass shipments this year won't reach Q1 levels again this year 
Share:  He also sees a buying opportunity<span class="sent"> Bernstein Research analyst <span class="analyst">Jeff Evenson</span> heard both bullish and bearish data points from <span class="company">Corning</span>: Bullish: 2010 LCD volume forecast increased from old level of 12% 17%</span> Management sees long term TV market growth accelerating to 6% 8% from 4% as replacement cycle for LCD exceeds that of CRT market Gorilla glass could be $1 billion market by 2013, up from $80 million in 2009, Bearish: LCD glass shipments this year won't reach Q1 levels again this year Tweet this 

That said, the UBS analyst  thinks the stock's dip is a buying opportunity, and repeats his Buy rating Ticonderoga Securities analyst Brian White thinks the stock's drop reflects an over reaction to the company's comment that LCD glass volume will likely be sequentially lower in Q2; he says Corning noted late in the meeting that its own glass production may ont follow industry trends and could grow in the quarter He keeps his Buy rating CLSA Asia Pacific Markets analyst Steve Fox pins the decline on concerns over the 2010 LCD volume forecast, as well as the Q2 sequential volume drop noted above He also sees a buying opportunity 
Share:  That said, the UBS analyst  thinks the stock's dip is a buying opportunity, and repeats his Buy rating<span class="sent"> Ticonderoga Securities analyst <span class="analyst">Brian White</span> thinks the stock's drop reflects an over reaction to the company's comment that LCD glass volume will likely be sequentially lower in Q2; he says <span class="company">Corning</span> noted late in the meeting that its own glass production may ont follow industry trends and could grow in the quarter</span> He keeps his Buy rating CLSA Asia Pacific Markets analyst Steve Fox pins the decline on concerns over the 2010 LCD volume forecast, as well as the Q2 sequential volume drop noted above He also sees a buying opportunity Tweet this