Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
Monday, shares of Alcon Inc. (NYSE:ALC), currently trading at $90.31 and near its 52-week high of $101.1, may see investor interest as Stifel analysts maintain a Buy rating and a $100.00 price target. According to InvestingPro data, analyst targets for the stock range from $75 to $116, with a strong consensus recommendation of 1.56 (Buy). The firm’s recent survey of 74 U.S. ophthalmologists regarding Alcon’s newly fully launched Voyager DSLT glaucoma device revealed strong excitement for the product and its efficiency gains over competing SLT systems. This development is particularly significant for Alcon, which InvestingPro identifies as a prominent player in the Healthcare Equipment & Supplies industry, with a substantial market capitalization of $44.58 billion.
Despite the positive reception of Voyager’s capabilities, the survey indicated lower-than-expected adoption intentions among ophthalmologists. This hesitation is attributed to two main factors: a high level of satisfaction with the ophthalmologists’ current SLT devices and frustration with Voyager’s click fee—a charge per use model.
Stifel analysts have used the findings from the adoption survey to estimate the revenue potential for Voyager by 2025. They project that the device could generate between $18 million to $39 million, which would contribute approximately 20 to 40 basis points to Alcon’s total sales growth for the year 2025. This estimation is considered a noteworthy contribution in the context of Alcon’s expected mid-single to high-single digit percentage revenue growth profile, building upon its current revenue growth of 5.25%. For deeper insights into Alcon’s valuation and growth metrics, including its comprehensive Pro Research Report, visit InvestingPro.
The firm’s analysis and projections are based on the current market dynamics and the recent full-scale launch of the Voyager DSLT in the United States. Alcon’s stock performance on Monday and in the near future may reflect the market’s assessment of these findings and projections.
In other recent news, Alcon Inc. has been the focus of several analyst evaluations and updates. Needham analysts adjusted their price target for Alcon to $106.00, down from $108.00, while maintaining a Buy rating. This revision follows management comments on potential earnings pressure due to currency fluctuations, leading to lowered revenue and EPS estimates for 2024 and 2025. KeyBanc also revised its price target for Alcon to $105.00 from $107.00, maintaining an Overweight rating, citing foreign exchange fluctuations as a factor. Despite the reduction, KeyBanc remains optimistic about Alcon’s growth prospects, highlighting upcoming product launches and a positive growth trajectory through 2025.
Redburn-Atlantic upgraded Alcon’s rating from Neutral to Buy, raising the price target to CHF93.00, based on expectations of significant results from ongoing research and development investments. The firm emphasized Alcon’s market position and operational reach as drivers for future growth and margin improvement. Needham has further shown confidence in Alcon by selecting it as a top pick for 2025, raising the price target to $108.00, and adding the company to its Conviction List. This decision reflects optimism about Alcon’s product launches and earnings potential for 2026. These recent developments underscore the varied analyst perspectives on Alcon’s strategic positioning and financial outlook.
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