Analyst David Saxon of Needham reiterated a Buy rating on Alcon (ALC – Research Report), boosting the price target to $110.00.
David Saxon has given his Buy rating due to a combination of factors that emerged from Alcon’s recent Capital Markets Day. He expressed increased confidence in Alcon’s ability to accelerate revenue and earnings growth in the near term, driven by a robust product launch cycle and a promising pipeline that presents significant opportunities.
Furthermore, Saxon has raised the price target for Alcon’s stock to $110, reflecting his optimism about the company’s growth prospects. This positive outlook is underpinned by the potential for Alcon’s new products to capture market share and drive financial performance, reinforcing the Buy recommendation.
In another report released on March 25, Stifel Nicolaus also maintained a Buy rating on the stock with a $100.00 price target.