Alcon: Jefferies maintains 'buy' rating

(CercleFinance.com) - Jefferies maintains a "buy" rating on the Alcon share, with a target price of 72 dollars, even after the Swiss eye care company delivered "mixed" third-quarter results.


Full-year guidance now calls for full-year sales growth outlook of close to 5% on a constant currency basis, from 3%-5% previously, the broker said, but this is offset by a tighter adjusted operating margin outlook, it noted.

However, the company's multi-year restructuring program is designed to reposition resources toward driving growth, Jefferies wrote, which still sees substantial EPS upside on US PanOptix lenses, Precision one-day contact lenses, and manufacturing.

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