Global LCD TV growth makes Corning shares look sharp

Not everyone has a flat-panel LCD TV. It just seems that way, and that makes shares in Corning (GLW), the leading manufacturer of the glass that goes into those TVs, look like a bargain.

Jefferies & Co. analyst George Notter initiated coverage of Corning late last week with a buy rating, saying he believes the Street is underestimating the potential size and trajectory of LCD panel shipments over the longer term. The analyst estimates that manufacturers have shipped roughly 490 million flat-panel TVs globally since the market for such goodies emerged, but that's just a fraction of the 1.5 billion TVs out there, most of which are still the old CRT kind.