Investors seeking stability in their investments should consider Alcon, according to JPMorgan. The bank recently upgraded the eye care company’s stock from neutral to overweight, while also increasing its price target to $89.30 per share from $79.80. This projection suggests a potential 11% increase from the previous day’s closing price of $80.24. JPMorgan’s decision comes after Alcon, known for its Opti-Free contact lens solution, announced better-than-expected second-quarter results and raised its full-year earnings guidance. Despite the positive news, the stock only experienced a slight increase. However, analyst David Adlington believes that Alcon has other growth opportunities, particularly in its implantable segment and overall higher equipment volume. Adlington stated, “We acknowledge this reporting season has seen a lot of share prices in the sector struggle even with ‘beats & raises’ — but there had been a lot of anticipation built in elsewhere. The positive earnings’ momentum looks set to continue.” Alcon’s stock has already gained over 17% in 2023.

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