UPDATE: Needham & Company Starts Alcon Inc. (ALC) at Buy, 'Visible Path to Sustainable Double-Digit EPS Growth'
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Needham & Company analyst David Saxon initiates coverage on Alcon Inc. (NYSE: ALC) with a Buy rating and a price target of $95.00.
The analyst comments "We believe ALC has visibility into sustainable mid-single digit or better revenue growth driven by key products in Implantables, Contact Lenses, and Ocular Health. We expect margin improvement driven by manufacturing, product mix, and opex leverage. Putting this all together, we estimate ALC can see above-peer EPS growth through 2024. Given these points, we are initiating coverage with a Buy rating and a $95 price target."
Shares of Alcon Inc. closed at $81.25 yesterday.
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