Jefferies cuts Alcon target to USD 85 for Alcon stock

Published on 10/01/2026 at 09:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 sales reached USD 2.78 billion, up 8.00 percent year over year. Alcon stock was EUR 56.63 on October 1, 2026, down 1.10 percent from EUR 57.26.

Photorealistic wide panoramic view of a modern ophthalmic surgery operating room. Surgical microscope centered, sterile metallic instruments arranged on blue drape, scrub-suited surgical team in background, cold overhead surgical lighting — Alcon CH0432492467: Augenchirurgie OP Saal mit Mikroskop, sterilen Werkzeugen und einem Operationsteam, Illustration mit AI erstellt.

Alcon stock (ISIN CH0432492467) stood at EUR 56.63 at Lang & Schwarz on October 1, 2026 at 9:31 a.m. CEST, down 1.10 percent versus the prior close of EUR 57.26. The immediate analyst signal came from Jefferies, which cut its Alcon price target to USD 85.00 from USD 95.00 on September 22, 2026 while keeping a Buy rating, Markets Insider reported. The cut highlights the tension between Alcon's operating growth and continuing pressure across the ophthalmology sector.

Q2 sales beat expectations

Alcon delivered USD 2.78 billion in net sales in the second quarter of 2026, an 8.00 percent year-over-year increase that topped consensus by 0.58 percent. Core earnings per share reached USD 0.84, up 10.50 percent from the year-earlier quarter and 9.09 percent above consensus, according to The Globe and Mail. The result gives the stock a concrete earnings anchor even as the target reduction signals a more cautious valuation view.

Guidance points to higher earnings

For 2026, Alcon maintained its constant-currency sales growth outlook of 5.00 percent to 7.00 percent. Core diluted earnings per share growth guidance rose to 12.00 percent to 15.00 percent from 10.00 percent to 13.00 percent, a three-percentage-point increase at both ends of the range, The Globe and Mail said. Management is therefore pointing to faster earnings growth than its earlier outlook, while revenue growth remains tied to a mid-single-digit range.

Surgical pressure limits the upside

The second-quarter operating margin was 0.40 percent, down 9.20 percentage points year over year after a PowerVision-related impairment charge. Surgical sales still rose 8.00 percent to USD 1.57 billion, but the report cited competitive pressure in implantables and softness in the cataract market as constraints on the near-term earnings profile.

Alcon stock trades in a wider range

Alcon had a market capitalization of USD 31.6 billion as of September 30, 2026. Its Swiss-listed shares were quoted at CHF 53.98 on October 1, 2026, while the SIX listing showed a 52-week range of CHF 47.80 to CHF 68.34. Those figures are separate from the euro reference price and indicate that the stock remains below its recent Swiss-market high.

At Lang & Schwarz, Alcon stock was trading at EUR 56.63 on October 1, 2026 at 9:31 a.m. CEST, down 1.10 percent against the prior close of EUR 57.26. The further course of trading is shown by the continuously updated real-time quote of Alcon stock.