Kepler Capital analyst Torsten Sauter maintained a Sell rating on Alcon (ALC) on September 23 and set a price target of CHF48.00. The company’s shares closed last Thursday at $56.21.
According to TipRanks.com, Sauter is a 1-star analyst with an average return of -2.8% and a 43.4% success rate. Sauter covers the Industrial Goods sector, focusing on stocks such as Implenia AG, Siemens AG, and Sulzer AG.
The word on The Street in general, suggests a Hold analyst consensus rating for Alcon with a $60.27 average price target.
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Based on Alcon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.21 billion and GAAP net loss of $422 million. In comparison, last year the company earned revenue of $1.9 billion and had a GAAP net loss of $390 million.
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Alcon, Inc. engages in the development, manufacture, and marketing of market surgical equipment and devices, pharmaceutical eye drops, and consumer vision care products to treat eye diseases and disorders. It operates through the following segments: Surgical and Vision Care. The Surgical segment offers implantable products, consumables and equipment for use in surgical procedures to address cataracts, vitreoretinal conditions, refractive errors, and glaucoma. The Vision Care segment comprises daily disposable, reusable and color-enhancing contact lenses, as well as portfolio of ocular health products, including over-the-counter products for dry eye, contact lens care, and ocular allergies, as well as ocular vitamins and redness relievers. The company was founded by Mr. Robert Alexander and Mr. William Conner on 1945 and is headquartered in Fribourg, Switzerland.