BTIG Reiterates Buy Rating on Alcon Inc. (ALC)

BTIG analyst Ryan Zimmerman reiterated a Buy rating and $82.00 price target on Alcon Inc. (NYSE: ALC).

The analyst commented: "We maintain our Buy and $82 PT following 2Q26 results. ALC delivered ~7% xFx growth, with ~7% xFx in Surgical and ~7% xFx in Vision Care driven by new product contributions. Core EPS was $0.84 with GMs and OMs beating expectations by +340bps and +190bps respectively. End-market growth remained subdued at 3% - 4% with cataracts at LSDs while contact lenses grew MSDs. ALC reiterated FY26 guidance at 5%-7% Y/Y xFx rev. growth for implied overall sales guidance of $10.927B to $11.134B (inclusive of ~90bps in Fx benefit) vs. the Street's $11.1B. FY26 Core OMs increased and are expected to grow 90bps-190bps (70bps-170bps Y/Y prior), implying a range of 20.7%-21.7%. Core EPS guidance was updated to grow 12%-15% Y/Y xFx (10%-13% Y/Y xFx prior) implying adj. EPS of $3.49 to $3.58 (prior $3.45 to $3.54). On balance, quarterly results were good, showcasing the power of ALC's new product launches, but investor enthusiasm remains vigilant for 2H26 due to tougher comps, one-time tariff refund dynamics, and a step-up in operating spend that may weigh on underlying OMx (net of tariff refunds). The debate coming out of the call is whether ALC can and will see similar growth levels into FY27 as they are seeing currently or will tougher comps and growth from the Unity launch wane. Mgmt. remains steadfast that more is coming to support ALC's above market growth (which has arguably been the story for some time now). These dynamics coupled with improved free cash flow to buyback shares keep us positive on shares."

For an analyst ratings summary and ratings history on Alcon Inc. click here. For more ratings news on Alcon Inc. click here.

Shares of Alcon Inc. closed at $73.63 yesterday.

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