Needham Rates Alcon (ALC) Buy, $98 Price Target

Needham reaffirmed its Buy rating on Alcon Inc. [NYSE: ALC] on October 21, 2026, keeping its price target unchanged at $98.00. The research note provides a forward-looking view on the medical equipment maker, coming as the broader market weighs the company's growth path in eye care products. Alcon closed at $67.43 on the day of the rating affirmation.

ALC Alcon Inc.

$67.43 ▼ -12.68% year to date

1M 3M YTD

Daily close · Oct 21, 2026

Needham's Call on Alcon Inc.

In its research note issued on October 21, 2026, Needham maintained its Buy rating on Alcon Inc. while keeping its price target steady at $98.00. The prior price target was also $98.00. This follows earlier calls from other Wall Street firms covering the Geneva, Switzerland-based health care company.

Other Institutional Activity in Alcon Inc.

Large investment firms have adjusted their holdings in Alcon recently. Bank Of New York Mellon Corporation reduced its holdings by 2,612,219 shares, ending with 13,057,962 shares worth about $917,713,553. Aristotle Capital Management, LLC reduced its holdings by 605,434 shares, ending with 9,979,069 shares worth about $701,328,957. AKO Capital LLP grew its holdings by 358,077 shares, ending with 9,683,004 shares worth about $680,521,509. Zurcher Kantonalbank reduced its holdings by 107,512 shares, ending with 7,915,741 shares worth about $556,318,267. Quadrant Capital Group reduced its holdings by 23,173 shares, ending with 29,363 shares worth about $1,849,869.

Alcon Inc. Stock Up 4.3%

Alcon shares recently traded around $69.00, putting the stock up about 2.3% since the October 21 close. The stock trades below its 52-week high of $87.64 and above its 52-week low of $61.84. The current price sits above its 50-day moving average of $68.36 and below its 200-day moving average of $72.42.

Recent Earnings

Alcon reported trailing twelve-month revenue of $10,860,999,680 and earnings of $1.32 per share. The company posted a net profit margin of 5.9% and a return on equity of 2.9%, alongside year-over-year revenue growth of 8.7%. Investors will look to the upcoming earnings report on November 10, 2026, for fresh financial details.

Dividend

The company pays an annual dividend rate of $0.36 per share, which translates to a dividend yield of 0.54%. This payout is supported by a dividend payout ratio of 26.6%.

Analysts Set New Price Targets

Wall Street holds a consensus Buy rating on the stock with an average price target of $82.73. Earlier analyst updates include Jefferies maintaining a Buy rating on September 22, 2026, while lowering its target from $95.00 to $85.00. Barclays initiated coverage on October 7, 2026, with an Equal-Weight rating and a $70.00 price target. BTIG maintained a Buy rating on October 12, 2026, while moving its target from $82.00 to $74.00. Needham also maintained an earlier Buy rating with a $98.00 target on September 15, 2026.

About Alcon Inc.

Alcon Inc. develops and distributes eye care products around the globe, focusing on surgical equipment and vision care solutions. The company provides intraocular lenses, surgical solutions, and diagnostics for medical procedures. Its operations serve healthcare providers and patients across two primary segments.

Bottom Line

Needham's steady target highlights confidence in the eye care provider's long-term outlook. Market participants will monitor the upcoming earnings report scheduled for November 10, 2026, to gauge operational progress.