Stifel initiated coverage of Alcon with a Buy rating and $85 price target. As the leader of the ophthalmology sector, which is a market characterized by durable mid-single digit percentage growth, the firm views Alcon as “a core holding,” the analyst tells investors. The firm’s survey diligence indicates the U.S. intraocular lens, or IOL, end market remains relatively healthy and while domestic competitive pressures may persist, Stifel’s checks suggest Alcon will show resilience, the analyst added.
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