Corning's (GLW) other potential hyperscaler agreements, similar to the $6 billion deal it signed with Meta Platforms (META) for fiber optic cables, could help raise 2027 estimates on the company, Morgan Stanley said in a Thursday note.

Building on this, Morgan Stanley said that the company's enterprise business is about $3 billion a year, meaning up to $6 billion from the Meta deal could be meaningfully incremental between 2026 and 2030.

Morgan Stanley raised its Q1 revenue and earnings per share estimate on Corning to $4.25 billion and $0.68 from $4.25 billion and $0.66, and fiscal 2026 estimates to $18.36 billion and $2.94 from $18.30 billion and $3.00.

Additionally, Morgan Stanley expects 2027 core revenue and EPS of $20.02 billion and $3.44.

Morgan Stanley raised its price target on Corning to $103 from $98 and maintained an equalweight rating.

Price: 99.99, Change: -4.29, Percent Change: -4.11