GLW

"Barclays raises their tgt to $20 from $17, saying while they believe the market anticipates a beat and raise from GLW this earnings season, firm thinks investors are underestimating the impact of glass shortage on margins and core volumes. After layering in resiliency of LCD TV unit demand and undemanding valuation amongst large cap tech space, firm actually views GLW as a defensive name heading into the summer. In step with buy-side expectations, firm looks for GLW to report 90-95% volume growth for core business and 45-50% growth for S.C.P., driving 2Q09 EPS of $0.31 vs consensus of $0.27. Firm looks also for GLW to raise its LCD glass outlook for 2009 from +5-10% to +10-15%, driving new CY10 EPS of $1.45 vs old estimate of $1.25, and consensus of $1.27. "