Alcon: Jefferies raises target price after results

(CercleFinance.com) - Jefferies has raised its target price for Alcon after the Swiss eye-care group reported quarterly results that were "overall clean and as expected.
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The US broker has upped its target from 70 dollars to 72 dollars, as well as its earnings estimates, saying that the company is "well-positioned to hit bull-case targets in due time."

Noting in particular better than expected growth in surgical, Jefferies maintained its "buy" rating on the share, seeing an 80-dollar upside case assuming that Alcon can reach 7% topline growth, and an adjusted EBITA margin of 27%.

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