Alcon: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse maintains "outperform" rating on the Alcon share, having increased its target price from 68 dollars to 73 dollars, still seeing the Swiss eye care group as "attractive".
The broker highlights an acceleration in underlying sales growth and adjusted operating income in Q2, reaching +5% and +7% respectively, excluding currency effects, "boosting our confidence in this overlooked med tech spin".
"We expect catalysts and new products to drive further acceleration in growth in 2H and 2020," the analyst added, saying that the share is still trading at a modest discount relative to peers.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker highlights an acceleration in underlying sales growth and adjusted operating income in Q2, reaching +5% and +7% respectively, excluding currency effects, "boosting our confidence in this overlooked med tech spin".
"We expect catalysts and new products to drive further acceleration in growth in 2H and 2020," the analyst added, saying that the share is still trading at a modest discount relative to peers.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.