Alcon price target lowered to $85 from $90 at Stifel

Stifel analyst Thomas Stephan lowered the firm’s price target on Alcon (ALC) to $85 from $90 and keeps a Buy rating on the shares. The firm, whose sales bridge analysis of core sales and new product sales suggests that second half upside remains unclear despite the recent guidance reduction, contends that “numbers still may not be fully reset,” but still argues that the recent pullback in shares is “compelling.” The firm believes the Street’s 2026 EPS estimate needs to come down before shares can start to work in the near-term, but adds that valuation limits significant downside risk in the stock.