Alcon price target raised to $120 from $115 at Mizuho

Mizuho raised the firm’s price target on Alcon (ALC) to $120 from $115 and keeps an Outperform rating on the shares following the capital markets day. The company’s updated five-year long-range plan is well ahead of Street expectations, the analyst tells investors in a research note. The firm says Alcon’s portfolio is well hedged against regulatory and recession headwinds while numbers are “going notably higher.”