Alcon Inc
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$88.00 | Nzfnkc | Jbjxdyb |
Alcon Earnings: Solid Demand, Market Outperformance, and New Launches All Look Promising
Narrow-moat Alcon reported solid second-quarter earnings. Total sales of $2.5 billion were up 3.1%, or 6% constant currency, year over year driven by strong implantables and contact lenses performance. Despite a number of peers delivering disappointing results during the quarter partly due to a challenged macro environment and a soft consumer outlook, we attribute Alcon’s ability to reap volume wins and drive growth to its strong intangibles. We raise our fair value estimate to $75 (CHF 64) per share from $70 (CHF 62) driven by the time value of money and a slightly ticked-up 2025 expectation.