Alcon Shares Plunge 12% to 52-Week Low Despite 10% Q1 Revenue Gain
Stifel Nicolaus lowered its price target on Alcon to $70, implying a 6.88% upside from current $65.50, despite a 12.14% share plunge to a 52-week low of $64.75. The company posted Q1 revenue of $2.70 billion, up 10%, and core diluted EPS of $0.85.
1. Price Target Revision and Stock Reaction
On May 6, Stifel Nicolaus adjusted Alcon’s price target to $70.00 from $X, now reflecting a 6.88% potential upside versus the $65.50 share price at announcement. Despite the positive outlook, shares tumbled 12.14% to $65.41 and reached a 52-week low of $64.75 in intraday trading.
2. Q1 Financial Performance and Product Success
Alcon reported Q1 revenue of $2.70 billion, marking a 10% year-over-year increase driven by launches like Unity VCS and PanOptix Pro. Core diluted EPS rose to $0.85, supporting a market capitalization of approximately $31.88 billion by quarter end.