Redburn Atlantic downgraded Alcon to Sell from Neutral with a price target of CHF 57, down from CHF 65. Alcon faces increased competition in implantable cataract lenses, where it is market leader, and the firm sees below market growth in FY24-25, the analyst tells investors. Mid-term expectations appear elevated and the firm sees scope for cons downgrades of estimates, noting that its own forecasts are 7% below adjusted EPS consensus by FY26.
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