Needham raised the firm’s price target on Alcon (ALC) to $110 from $107 and keeps a Buy rating on the shares. Following the company’s Capital Markets Day, the firm has come away more confident that Alcon’s product launch cycle can drive revenue and earnings growth acceleration over the near-term with the pipeline including shots on goal for significant opportunities, the analyst tells investors in a research note. Needham adds that it has increased conviction in Alcon’s growth acceleration outlook.
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