Alcon Gets Price Target Hikes By Analysts After Q1 Results

Alcon Inc. ALC reported its financial results for the three months ended March 31, 2023.

Sales rose 7% on a reported basis to $2.3 billion compared to the same quarter of the previous year. Alcon reported diluted EPS of $0.35 and core diluted EPS of $0.70 in the first quarter.

Alcon shares jumped 8.9% to close at $80.64 on Wednesday and lost 1.4% in today’s pre-market trading session.

These analysts made changes to their price targets on Alcon following earnings announcement.

• BTIG raised the price target on Alcon from $81 to $88. BTIG analyst Ryan Zimmerman maintained a Buy rating.
• Morgan Stanley increased the price target on Alcon from $78 to $85. Morgan Stanley analyst Cecilia Furlong maintained an Equal-Weight rating
• Needham raised price target on Alcon from $85 to $94. Needham analyst David Saxon maintained a Buy rating on the stock.

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