Alcon price target raised to $78 from $75 at BTIG

BTIG analyst Ryan Zimmerman raised the firm’s price target on Alcon to $78 from $75 and keeps a Buy rating on the shares as part of a broader research note on Medical Technology. The analyst is updating his model to reflect the closure Aerie Pharmaceuticals deal in Q4, though the company will have to initially account for some increased costs due to the transaction. Zimmerman is also rolling forward his estimates by one quarter with a 27-times multiple over the next 1-2 years’ earnings.