Alcon price target lowered to $75 from $80 at Baird

Baird analyst Jeff Johnson lowered the firm’s price target on Alcon to $75 from $80 and keeps a Neutral rating on the shares. The analyst believes the selling may be overdone as investors worried about a modest downshift in management’s contact lens and surgical end-market commentary and that 2023 guidance might already embed roughly $0.10 in unaccounted for FX headwinds.