In a report released yesterday, Michael Sarcone from Jefferies maintained a Buy rating on Alcon (ALC – Research Report), with a price target of $100.00.
Michael Sarcone’s rating is based on a comprehensive proprietary survey that indicated a generally positive outlook for Alcon (ALC). The survey, which included a mix of ophthalmologists, suggested strong potential for Alcon in diagnostic equipment share gains, particularly with the anticipated launch of the Unity product line. Increased expectations for cataract volume growth and a lower average patient age for cataract procedures further solidify Alcon’s favorable position in the market. Additionally, Sarcone notes the potential for Alcon’s AR-15512 to capture a significant share of the dry eye disease treatment market upon approval.
The report also highlights the stability and potential growth in demand for advanced technology intraocular lenses (AT-IOLs), despite modest anticipated share erosion due to competition. A positive trend was observed for Alcon’s Hydrus microstent business, with expectations of a healthy compounded annual growth rate in the minimally invasive glaucoma surgery (MIGS) sector and stable market share. These factors, along with management’s sales projections for AR-15512, contribute to Sarcone’s Buy rating for Alcon, underpinned by a valuation that sets a price target based on future earnings per share estimates.
According to TipRanks, Sarcone is an analyst with an average return of -2.1% and a 37.50% success rate. Sarcone covers the Healthcare sector, focusing on stocks such as Alcon, Glaukos, and Penumbra.
In another report released on April 22, Stifel Nicolaus also maintained a Buy rating on the stock with a $95.00 price target.
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Alcon (ALC) Company Description:
Alcon Inc. is a medical company which is specialized in eye care products. The company develops, manufactures, distributes, and sells technologies and devices for cataract, retinal, refractive surgery, as well as contact lenses and lens care products.
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