ALC Stock Forecast & Price Target

Alcon is positioned for a positive outlook as it anticipates an improvement in its top-line growth profile, with expectations of surpassing mid-single digit market growth rates for contact lenses. The company is also projected to experience solid operating margin expansion, which is expected to contribute to double-digit earnings per share (EPS) growth. As Alcon moves into fiscal year 2026, these factors suggest a recovery in share performance driven by robust market dynamics and operational efficiency.

Alcon faces significant risks to its revenue growth, particularly due to potential market share losses in both the intraocular lens (IOL) and contact lens markets, compounded by a challenging economic environment that could further impede growth in over-the-counter segments. The company's bear case projections indicate flat-to low-single digit revenue growth and minimal leverage on operating expenses, leading to slower earnings per share (EPS) growth than anticipated. Additionally, Alcon's short-term performance may be adversely affected by pre-buying behavior linked to pricing strategies, as well as tough year-over-year comparisons influenced by sell-in dynamics in the Chinese market.