Alcon: UBS starts coverage with 'neutral' rating

(CercleFinance.com) - UBS has initiated its coverage of Alcon, the former eye care unit of Novartis, with a "neutral" rating and a target price of 57 Swiss francs, citing a "turnaround story," but "at a premium.
"

"We see a strong case for the sustainability of top-line growth but model margin recovery to the low end of management's low- to mid-20s per cent guidance," the broker wrote in a note to clients.

Alcon shares are currently down 2.1% at 56.8 Swiss francs.

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.