ACL: (Pharmaceuticals)
At $33.00, Alcon (ACL) is trading at 20.4x our 2003 EPS
forecast. This P/E multiple is at an 8% discount to
Allergan. The stock is also trading at a
9% discount to the large diversified companies (JNJ and ABT )and at the S&P
multiples when comparing the 2003 P/E multiples. We
believe that Alcon’s valuation is attractive at the current
price.
Cash flow/share:$1.55
Est 5 yrs earning growth:20%
Eps 2001 act.:$1.04
Eps 2002 est.:$1.35
Eps 2003 est.:$1.6
At $33.00, Alcon (ACL) is trading at 20.4x our 2003 EPS
forecast. This P/E multiple is at an 8% discount to
Allergan. The stock is also trading at a
9% discount to the large diversified companies (JNJ and ABT )and at the S&P
multiples when comparing the 2003 P/E multiples. We
believe that Alcon’s valuation is attractive at the current
price.
Cash flow/share:$1.55
Est 5 yrs earning growth:20%
Eps 2001 act.:$1.04
Eps 2002 est.:$1.35
Eps 2003 est.:$1.6