Corning (GLW) shares rose on Wednesday following an upgrade from analysts at Mizuho, ​​who said the recent decline following the release of last month’s earnings report created an “attractive entry point.”

The analysts raised their rating to “outperform” from “neutral” and increased their price target for the stock to $47 from $44. They wrote that they had not observed “any overall slowdown in the company’s operations and growth programs.”

The New York-based company produces a variety of specialized glass and ceramic products, from glass for smartphones and televisions to fiber optic cabling solutions for data centers, which have seen a surge in demand due to increased investment in artificial intelligence (AI).

Corning could hope for share price gains after the decline in the July rally

Corning shares rose to a three-year high last month after the company raised its revenue and profit forecasts on demand for its optical interconnect products, but later declined when the company’s second-quarter results and third-quarter guidance fell short of expectations.

Mizuho analysts believe Corning’s recent share price decline has more to do with last month’s market rotation than with Corning’s business model or revenue. They wrote that an upcoming review of Corning’s fiber optic business could boost Corning’s share price because it highlights one of the company’s strengths.

Corning shares closed 3.3 percent higher at $42.08 on Wednesday and have gained more than 38 percent since the beginning of the year.