Bernstein Updates Alcon Estimates, Price Target After 'Strong' Commercial Execution in Q2

05:14 AM EDT, 08/13/2026 (MT Newswires) -- Bernstein adjusted its earnings estimates and price target for Alcon (ALC.SW) after better-than-expected second-quarter results driven by "strong" commercial execution and new product launches. "Q2 demonstrated management's ability to deliver on guidance despite elevated investor concern. While the [comparisons] get tougher in H2, Alcon will benefit from the lapping of the legacy product declines in Contact Lenses, increased contribution from Tryptyr as coverage expands and marketing spend steps up, and the expansion of PanOptix Pro to Europe. On the profitability side, H2 benefits from the efficiency savings in addition to the net US tariff refund benefit," according to a Wednesday note. For the three months ended June 30, the Swiss eye care company reported net sales of $2.78 billion, up 7% at constant currency. The research firm noted that its constant-currency revenue growth came in ahead of market expectations of 6% and that the quarter's core operating income surpassed consensus by 11%. Adjusting for recent performance, currency movements and management feedback, analysts lifted their full-year 2026 EPS estimate by 2%, citing tariff refunds and a slight reduction in share count, while outer-year forecasts are flat to up 1%. Bernstein also raised the price target of the outperform-rated Swiss stock to 76.15 francs from 73.50 francs.