Corning (NYSE:GLW) Challenged by Margins, Taxes

Goldman Sachs (NYSE:GS) lowered their EPS estimates and price target on Corning (NYSE:GLW), citing a lower margin environment and higher taxes.

Full year EPS estimates for 2010, 2011 and 2012 were lowered from $2.07, $1.98 and $1.97 to $2.06, $1.70 and $1.71.

Goldman reiterates their "Neutral" rating on Corning, which closed Thursday at $19, up $0.14, or 0.74 percent. They lowered their price target on them from $20 to $19.

Volume was a little above the daily 3-month average.