The shares of glass maker Corning (GLW) are falling after Goldman downgraded the stock to Neutral from Buy, saying that the stock already reflects the company’s opportunity.

CURRENT SITUATION: The fundamentals of Corning’s glass business “remain healthy,” while its display business has rebounded and now has “stable” fundamentals, according to Goldman analyst Doug Clark.

OUTLOOK: Corning has a number of potential positive catalysts going forward, Clark believes. Specifically, the company’s double sided glass will be used in devices starting in 2017 or 2018, and over the longer term, automakers could start using Corning’s Gorilla Glass, the analyst predicted. Additionally, Corning could develop new products in the life sciences field and launch M&A in the optical space, the analyst stated. However, he believes that these opportunities are already reflected in the stock after the shares gained 33% since April 2016. Moreover, Clark believes that changes in the structure of Corning’s LCD panels could lead to volatility in its results over the next year.

PRICE TARGET: Clark kept a $29 price target on the stock.

PRICE ACTION: In morning trading, Corning fell 2.7% to $27 per share.