Alcon upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst David Adlington upgraded Alcon to Overweight from Neutral with a price target of $89.30, up from $79.80. The analyst says concerns on the company’s implantables growth is likely to be short-lived. The firm believes 30% earnings growth this year and continued momentum into fiscal 2024 is likely to drive the market to reassess Alcon’s multiple versus other quality growth names in the sector. Implantables concerns are overdone post the Q2 report and the company’s earnings momentum will continue, the analyst tells investors in a research note.