Alcon: UBS upgrades to buy
(CercleFinance.com) - On Friday UBS upgraded its rating on the ophthalmic specialist Alcon from "neutral" to "buy," having nudged up its corresponding target price for the share from 58.
5 Swiss francs to 60 Swiss francs.
In comments sent to its clients, the broker says that it is "more positive" about the share following a series of successful product launches.
"Alcon shares have declined >25% since Feb 19th as concerns around the coronavirus outbreak escalate, and we now believe the stock is pricing in material headwinds ex-China beyond 2020," it says.
However, UBS believes, that the problems with the coronavirus are not likely to affect demand.
At lunchtime on Friday Alcon shares are up over 5% on the Zurich Stock Exchange.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5 Swiss francs to 60 Swiss francs.
In comments sent to its clients, the broker says that it is "more positive" about the share following a series of successful product launches.
"Alcon shares have declined >25% since Feb 19th as concerns around the coronavirus outbreak escalate, and we now believe the stock is pricing in material headwinds ex-China beyond 2020," it says.
However, UBS believes, that the problems with the coronavirus are not likely to affect demand.
At lunchtime on Friday Alcon shares are up over 5% on the Zurich Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.