Alcon, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst David Saxon from Needham reiterated a Buy rating on the stock and has a $101.00 price target.
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David Saxon has given his Buy rating due to a combination of factors influencing Alcon’s performance. The company’s third-quarter revenue growth was in line with expectations, and its earnings per share exceeded consensus estimates, indicating strong financial health. Additionally, the successful launch of the Unity VCS contributed to achieving the anticipated growth for the second half of the year, supported by a robust order book.
Furthermore, while the guidance assumes modest market growth, there are signs of improving market conditions, particularly in the Consumables segment. Alcon’s market share in the contact lens sector appears to have increased year-over-year, based on comparisons with competitors. These elements collectively support the positive outlook and justify the Buy rating for Alcon’s stock.
According to TipRanks, Saxon is an analyst with an average return of -0.1% and a 36.72% success rate. Saxon covers the Healthcare sector, focusing on stocks such as DENTSPLY SIRONA, Bausch + Lomb Corporation, and Alcon.
In another report released on November 7, Stifel Nicolaus also maintained a Buy rating on the stock with a $85.00 price target.