Alcon targets 25% operating margin by 2027 with shares potentially rising 70-80% from current levels

Alcon, a leader in ophthalmology, is trading at about 18 times forward earnings, reflecting expected mid-teens EPS growth but not accounting for margin expansion or pipeline opportunities. Management aims to achieve a 25% core operating margin by fiscal year 2027 and has raised its core EPS growth guidance to 12-15%. The company is also returning significant capital to shareholders. Analysts see a base-case target price of $126-$131 per share, implying a 70-80% upside from the current $72 share price, with even conservative estimates suggesting 60-65% upside due to unpriced margin recovery and pipeline potential.