Needham Remains a Buy on Alcon (ALC)

In a report released today, David Saxon from Needham reiterated a Buy rating on Alcon (ALCResearch Report), with a price target of $85.00. The company’s shares opened today at $75.30.

Saxon covers the Healthcare sector, focusing on stocks such as Alcon, Alphatec Holdings, and NuVasive. According to TipRanks, Saxon has an average return of -6.6% and a 38.68% success rate on recommended stocks.

Currently, the analyst consensus on Alcon is a Moderate Buy with an average price target of $79.42.

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Based on Alcon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.14 billion and a net profit of $116 million. In comparison, last year the company earned a revenue of $2.1 billion and had a net profit of $2 million

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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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