BofA double downgraded Alcon (ALC) to Underperform from Buy with a price target of $75, down from $100. The firm sees limited share upside and market uncertainty for Alcon, saying 2025 was marked by a market slowdown, competition, and guidance cuts. Consensus expectations are too optimistic heading into 2026, the analyst tells investors in a research note. Bofa believes consensus estimates assume a sharp rebound, share gains, and “ambitious” Unity ramp-up despite Alcon’s low visibility. This leaves little room for positive surprises, the firm contends.
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