Alcon Inc

ALC: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 44.00	Rcyjp	Wcdzqrvrz

Alcon Earnings: Strong Results Reaffirm Leadership in Surgical Market; Outlook Appears Solid

Keonhee Kim

Feb 28, 2024

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.

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