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ACL.N

ISIN: CH0013826497
SEDOL: 2852395

Rating:

HOLD

Target Price:

112.18 USD

Investment Horizon:

6 to 12 months
23rd Jul 2009 View Report   Download

2Q 09 News Alert

Alcon Inc. (Alcon) reported modest y-o-y decline in sales in 2Q 09, in-line with our estimate. Performance at the operating and net level exceeded our expectations in 2Q 09. Considering the better-than-expected performance, we maintain our positive outlook for the company. However, we believe the NYSE common stock is fairly priced at current levels. Hence, we maintain our HOLD rating for the NYSE common stock and will reassess our target price and rating in our…

4th Jun 2009 View Report   Download

Company News Alert

The NYSE common stock achieved our target price on 03 June 2009, closing at US$114.17. At current price levels, we believe the NYSE common stock is fairly priced. Consequently, we downgrade the NYSE common stock from a BUY to a HOLD. We will reassess our target price and rating in our 1Q 09 update report. We are likely to revert to a 6-24 month investment horizon to value the European stock, as we now anticipate a significant negative currency impact on the European stock over…

23rd Apr 2009 View Report   Download

1Q 09 News Alert

Alcon Inc. (Alcon) reported modest y-o-y decline in sales in 1Q 09, reflecting weak sales across all divisions during the quarter. However, the diverse product portfolio, company’s focus on launching new products in emerging markets and product innovation will continue to support Alcon‘s top-line growth, going forward. Based on these factors, we maintain our positive outlook for the company. Hence, we maintain our BUY rating for the NYSE common stock…

24th Mar 2009 View Report   Download

4Q 08 & FY 2008 Update Report

We believe Alcon will continue to benefit from its dominant position in the eye care market, led by the company’s expanding product portfolio and strong relationship with physicians, going forward. Alcon is constantly improving and advancing its product portfolio, in addition to increasing its presence in emerging markets. With an increasing awareness amongst physicians and patients over the importance of eye care in emerging…

12th Feb 2009 View Report   Download

4Q 08 & FY 2008 News Alert

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Alcon Inc. (Alcon) reported flat y-o-y sales growth in 4Q 08, in-line with our expectation. We expect Alcon’s strategy of expanding its market presence by launching new products in emerging markets, coupled with strong demand for the company’s glaucoma drugs; Travatan and DuoTrav, to support revenue growth at a modest pace over the medium term. Consequently, our outlook for the company remains positive and we reiterate our…