Alcon Kept at Buy as Berenberg Notes Product Launch Momentum

06:02 AM EDT, 10/20/2026 (MT Newswires) -- Berenberg reiterated its buy rating for Alcon (ALC.SW), with a price target of 85 francs, as analysts expect the group to continue benefiting from its "strong" product launch momentum. "Our Buy thesis for Alcon is centred on the company being the best way for investors to gain exposure to the attractive ophthalmology market. Alcon is an innovation leader, with plans to roll out more than 10 major products across its Surgical and Vision Care segments in 2025-26, most notably Unity VCS (surgical equipment), Tryptyr (dry eye), PanOptix Pro (intraocular lenses (IOLs)) and Valeda (a device for treating age-related macular degeneration)," analysts said in the third edition of its Swiss Stockpicker Ideas report published Tuesday. The research firm also expects new product launches to further boost Alcon's margins, with core operating margins projected to reach 22.8% in 2028, compared with 19.8% in 2025. In the near term, key catalysts for the company include further details about the launch of its intraocular lens, or IOL, platform Vivity in new markets or a potential guidance upgrade at its third-quarter report due Nov. 11. "Alcon has created a deep competitive moat around its US business through bundling equipment and consumables sales and through rebate deals for IOLs. Despite some competitive pressure in international markets observed in H1 (especially in advanced technology IOLs (ATIOLs)), our overall thesis on Alcon remains unchanged," Berenberg wrote.