UBS has reaffirmed its 'buy' recommendation on Alcon, and raised its target price from CHF 78 to CHF 87, a new target that offers a 15% upside potential for the Swiss ophthalmology specialist's shares.

Alcon is best placed in a sector that is once again in demand, with a reasonable valuation (slight sector premium) and a future rich in catalysts", says the broker in the summary of its research note.

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