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ALC - Alcon: Good Quarterly Results But It Is Still Expensive
Alcon Inc.
Alcon has built a leading position over time in the surgical and vision care markets. This is a high-quality business with predictive cash flows fitting the value framework.
On the back of strong results, I have raised ALC's fair value from roughly $61.00 per share to approximately $75 per share.
Based on a market price of $84 per share, I would personally wait for a 10-20% drop before buying ALC.