ALC - Alcon downgraded to hold at Societe Generale on macro headwinds
- Societe Generale has downgraded Alcon ( NYSE: ALC ) to hold from buy as the eye care company's immunity to macro headwinds is declining.
- The firm has a price target of CHF73.6 (~9% upside based on Thursday's close on the SIX Swiss Exchange).
- Analyst Delphine Le Louet said that in the second half of the year, he is lowering his growth forecasts for Vision Care and assuming additional inflationary pressure in a short-term margin scenario.
- He is now projecting 2021-26 sales and EPS growth of, respectively, 5.8% and 12.5%, vs 6.9% and 14.1%, before.
- Seeking Alpha Quant Rating views Alcon ( ALC ) as a hold with high marks for profitability, revisions, and momentum .
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Alcon downgraded to hold at Societe Generale on macro headwinds