Berenberg Bank Reaffirms Their Hold Rating on Alcon (ALC)


In a report released today, Scott Bardo from Berenberg Bank maintained a Hold rating on Alcon (ALC), with a price target of CHF58.00. The company’s shares closed last Monday at $59.09.

According to TipRanks.com, Bardo is a 5-star analyst with an average return of 17.2% and a 76.9% success rate. Bardo covers the Healthcare sector, focusing on stocks such as Siemens Healthineers AG, Tecan Group AG, and LivaNova.

Currently, the analyst consensus on Alcon is a Hold with an average price target of $62.51, representing a 6.2% upside. In a report issued on November 11, Redburn Partners also upgraded the stock to Hold.

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Based on Alcon’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.9 billion and GAAP net loss of $390 million. In comparison, last year the company earned revenue of $1.76 billion and had a net profit of $329 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 Surgical and Vision Care segments.

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