Alcon Inc
ALC: XSWX (CHE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CHF 41.00 | Gfnvwdf | Fsshtlxr |
Alcon Earnings: Strong Results Reaffirm Leadership in Surgical Market; Outlook Appears Solid
Narrow-moat Alcon reported fourth-quarter earnings that were better than our expectations. Total sales of $2.4 billion were up 8.3% year over year thanks to a strong performance from the ocular health and equipment business. After ticking up our near-term assumptions and accounting for time value of money impacts, we raised our fair value estimate to $70 per share from $64.