Corning Incorporated (GLW) shares surged 9.62% during intraday trading on Tuesday, extending a powerful rally as a confluence of bullish catalysts reignited investor enthusiasm for the optical communications leader.

The stock was buoyed by Truist Securities' upgrade of Corning from "Hold" to "Buy," with a price target of $175, implying significant upside. Analyst Matthew Niknam highlighted that after a roughly 45% pullback in July, Corning's valuation has returned to reasonable levels, while projecting earnings per share to grow at a 30% compound annual growth rate through 2029, with potential for further upward revisions to long-term financial guidance.

Adding to the momentum, a Reuters report that the Trump administration is drafting a ban on U.S. imports of new Chinese optical transceivers sent optical-networking stocks soaring across the board. The proposed ban, aimed at protecting data center infrastructure critical to the AI boom, would benefit U.S.-based suppliers like Corning, which manufactures optical fiber and components essential for data center connectivity. The broader optical communications sector rallied sharply, with peers such as Coherent and Applied Optoelectronics also posting double-digit gains, further reinforcing the positive sentiment surrounding Corning's optical segment.