Its new products offset its COVID constraints

Article Excerpt

Swiss pharmaceutical giant Novartis spun off Alcon just last year. And as we’ve said many times before, spinoffs are the closest thing you can find to a sure thing, regardless of the market’s ups and downs. The stock is already up over 80% from its March 2020 lows, but we think it can go much higher. Trends now underway—as well as Alcon’s strong position in its key markets—will power those gains. We continue to recommend this stock as a Power Buy. ALCON, $71.01 (New York symbol ALC; TSINetwork Rating: Extra Risk) (; Shares o/s: 499.7 million; Market cap: $35.5 billion; No dividends) is the world’s biggest eye-care company. Specifically, it’s the leader in ocular surgical supplies and No. 2 in contact lenses. While Alcon is based in Switzerland, it’s headed by an American, reports results in U.S. dollars, and gets 44% of its sales in that market. It also generates 25% of its revenues from emerging markets, one of the highest percentages among…

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