Procore stock price target raised to $90 from Goldman Sachs on stabilizing growth
Investing.com - Bernstein SocGen Group has reiterated an Outperform rating on Alcon Inc. (NYSE:ALC) with a price target of $104.65 ahead of the company’s third-quarter earnings report.
The medical device company is scheduled to release its Q3 results after the U.S. market close on November 11, with a conference call to follow on November 12, according to Bernstein’s analysis.
Investor sentiment remains cautious following consecutive guidance cuts at Q1 and Q2 results earlier this year, with many concerned about the possibility of another reduction at the upcoming earnings announcement, the research firm noted.
Bernstein expects particular focus on Alcon’s Equipment business, projecting 13% growth compared to consensus estimates of 12.6%, as Q3 represents the first full quarter benefiting from the Unity VCS launch, with investors anticipating a meaningful acceleration from the -1% performance in Q2.
The Implantables segment will also be closely monitored due to recent slowdowns in cataract procedure volumes and increased competitive pressure in the U.S. from new product launches and in Europe from JNJ pricing, while the Consumables business will be scrutinized for signs of recovery after disappointing Q2 results.
In other recent news, STAAR Surgical Company has postponed its Special Meeting of Stockholders concerning the proposed merger with Alcon Inc. Originally set for October 23, the meeting has been rescheduled to December 3, 2025, due to ongoing discussions with Alcon. This decision has sparked criticism from Yunqi Capital, a 5.1% shareholder, which expressed concerns that the postponement aims to salvage a deal that has faced significant shareholder opposition. Reports indicate that approximately 72% of STAAR’s outstanding shares had voted against the merger before the original meeting date. Broadwood Partners, holding a 27.5% stake in STAAR, has also voiced dissatisfaction, planning to seek the removal of three board members over the delay. Meanwhile, KeyBanc has adjusted its price target for Alcon to $91 from $98, maintaining an Overweight rating due to lower industry and peer multiples. These developments highlight the ongoing tensions and strategic maneuvers surrounding the STAAR and Alcon merger proposal.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.