Alcon price target raised to $96.60 from $93 at Bernstein

Bernstein raised the firm’s price target on Alcon to $96.60 from $93 and keeps an Outperform rating on the shares following quarterly results. Q4 revenues were in line with consensus expectations, up +10% in constant currency. While core operating income margin at 18.9% came in -80bps below consensus, the miss was offset by lower taxes and financial expenses, Bernstein says.