Alcon: Berenberg cuts target price
(CercleFinance.com) - Berenberg has cut its target price on Alcon, but maintains a "buy" rating on the share, citing the company's outperformance both in the surgical and vision care businesses.
"COVID-19 has caused some meaningful near-term disruptions to the ophthalmic market and halted some of Alcon's strong momentum after its spin-out from Novartis,' Berenberg analysts wrote in a note.
Berenberg has cut its target price for the Swiss group's stock from 64 Swiss francs to 62 Swiss francs .
"Alcon will lead the inevitable recovery of the ophthalmic industry and still has significant growth and margin expansion prospects ahead of it," analysts added.
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.
"COVID-19 has caused some meaningful near-term disruptions to the ophthalmic market and halted some of Alcon's strong momentum after its spin-out from Novartis,' Berenberg analysts wrote in a note.
Berenberg has cut its target price for the Swiss group's stock from 64 Swiss francs to 62 Swiss francs .
"Alcon will lead the inevitable recovery of the ophthalmic industry and still has significant growth and margin expansion prospects ahead of it," analysts added.
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.