Alcon AG
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Health Care : Health Care Equipment & Supplies | Large Cap Growth
Based in Switzerland
Company profile

Alcon AG is a Switzerland-based company specialized in the medical industry. The Company operates mainly as an eye care device company. Alcon AG reports its activities into two segments: Surgical and Vision Care. The surgical segment provides a line of ophthalmic surgical products that enable surgeons to achieve accurate results. Its surgical portfolio includes technologies and devices for cataract, retinal, refractive surgery, as well as advanced technology intraocular lenses (ATIOLs) to treat cataracts and refractive errors, such as presbyopia and astigmatism. The surgical segment also includes advanced viscoelastics, surgical solutions, surgical packs and other disposable products for cataract and vitreoretinal surgery. The Vision Care segment manufactures contact lenses and lens care products, such as products for dry eye, contact lens care, ocular allergies, as well as ocular vitamins and redness relievers. The Company also offers continuing education for eye care professionals.

Price
Delayed
$78.56
Day's Change
0.6475 (0.83%)
Bid
--
Ask
--
B/A Size
--
Day's High
79.46
Day's Low
78.35
Volume
(Average)

Today's volume of 585,913 shares is on pace to be in-line with ALC's 10-day average volume of 862,145 shares.

585,913

Has AT&T stock been punished enough? One analyst says the 'bear case' is mostly exhausted

3:26 pm ET January 7, 2022 (MarketWatch)
Print

By Emily Bary

Wells Fargo upgraded AT&T shares citing limited 'downside risks'

After another year of underperformance versus the S&P 500, AT&T Inc.'s "bear case" may have mostly played itself out, according to an analyst.

While AT&T (T) still faces a number of challenges, Wells Fargo senior equity analyst Eric Luebchow now sees its stock as fairly valued. He upgraded the shares to equal weight from underweight Friday, while boosting his price target by a buck to $27.

AT&T shares declined roughly 14% in 2021 as the S&P 500 increased 27%. That underperformance leaves Luebchow with the sense that the "downside risks are more limited" for the telecommunications stock. There are also some positives, including that AT&T could deliver the strongest service revenue growth in the wireless industry during 2022, he wrote.

Additionally, AT&T is expected to complete its shedding of WarnerMedia assets later this year. The part of AT&T that will remain trades at a roughly 1 to 2 times discount to Verizon Communications Inc. (VZ) and T-Mobile US Inc. (TMUS) shares on the basis of earnings before interest, taxes, depreciation and amortization (Ebitda), he said, "despite a prospective yield of 6% that should be securely covered."

Luebchow also sees "some optionality for share repurchases (or dividend raises)" over time as AT&T makes progress with its goals on free-cash-flow growth and leverage reduction.

Read: AT&T exceeds HBO Max subscriber outlook

Still, he isn't ready to turn bullish on the name, arguing that there are still some challenging elements to AT&T's story. For one, the company appears to be months behind Verizon in getting its 5G network ready for C-band spectrum, based on Luebchow's conversations with infrastructure players. Additionally, the company has "the weakest mid-band spectrum portfolio," which could impact its ability to drive net customer additions in the long run.

Shares of AT&T are up 0.6% in Friday afternoon trading. They've slipped about 3% over the past three months as the S&P 500 has increased nearly 7%.

-Emily Bary

	

(END) Dow Jones Newswires

January 07, 2022 15:26 ET (20:26 GMT)

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