JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
On Tuesday, BofA Securities analysts reduced the price target for Alcon (NYSE:ALC) Inc. stock to CHF89 from CHF96, while maintaining a Buy rating. The adjustment follows a challenging first quarter for the eye care company, which saw its shares decline by approximately 15% in May. Currently trading at $85.17, Alcon’s stock sits near its 52-week low of $80.48, according to InvestingPro data.
The analysts noted that conversations with investors have become more balanced, with many long-term investors focusing on Alcon’s structural growth potential and upcoming product launches. Despite the recent setbacks, the analysts reiterated their Buy rating based on these future prospects. With a market capitalization of $42.25 billion and an overall "GOOD" financial health score on InvestingPro, the company maintains strong fundamentals.
The revised price target reflects a 4% earnings per share reset after the first-quarter results. BofA Securities emphasized the appeal of Alcon’s risk/reward profile, particularly with expected sales and earnings growth starting in the third quarter.
Alcon’s stock is listed on both the SIX Swiss Exchange and the New York Stock Exchange under the ticker ALC. The analyst’s report highlighted the company’s product cycle momentum as a key factor driving interest among investors.
In other recent news, Alcon Inc. has received FDA approval for its dry eye treatment, TRYPTYR, marking a significant milestone for the company. The treatment, also known as AR-15512, is set to launch in the U.S. in the third quarter of 2025, with plans for further market expansion. Analysts at Citi and BTIG have maintained their Buy ratings for Alcon, with price targets set at $99.00, highlighting the potential commercial success of TRYPTYR. Citi projects peak sales of $250 million, with potential earnings growth for Alcon, while BTIG is optimistic about the drug’s market entry. The FDA approval is based on positive results from Phase 3 clinical trials, demonstrating significant improvements in tear production. Additionally, Alcon plans to bolster its sales force to support the launch, although initial revenue contributions are expected to be modest. The company is also advancing its diagnostic capabilities with the Unity DX system, currently undergoing clinical trials. This system is expected to enhance clinical workflows and is part of Alcon’s ongoing innovation efforts. Stifel analysts also maintain a Buy rating with a $100 target, noting TRYPTYR’s unique mechanism and potential market challenges.
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