Jefferies & Company Raises Alcon Estimates

Jefferies & Company is raising its estimates of Alcon, Inc.

to reflect another solid quarter. The company said that its Hold Rating strictly reflects expectations for single-digit returns into the final merger negotiations. “We continue to view the final price tag for the minority stake to be in the $175-180 range,” Jefferies & Company writes. “Our $180 PT blends a $175 P/E-based target, a $176 PEG-derived target, and a $186 DCF target. ACL faces Fx risks, clinical & regulatory risks.” Alcon, Inc. currently trades for $167.70.