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Feb 2, 2026 4:24 AM

Alcon Targets Faster Growth In 2026 With New Cataract Surgery Systems

William Blair initiated coverage on Alcon Inc. (NYSE:ALC) on Friday with a Market Perform rating.

Over the past two years, Alcon has been aggressive in driving top-line growth both internally (increased R&D spend) and externally (several announced tuck-in acquisitions).

In 2025, after much drama, Alcon terminated the merger agreement with STAAR Surgical Company (NASDAQ:STAA) as it did not receive the necessary shareholder approval.

Analyst Steven Lichtman wrote that the premium is warranted given the company's full pipeline, but with the stock already trading at a roughly 25% premium (slightly above historical) based on a 2026 P/E multiple, the analyst looks for potential upside drivers to estimates, including mix upgrade potential in consumables and performance of Alcon's dry eye disease drug, Tryptyr.

Alcon's equipment segment was about 10% of ...