The bank upgraded the eye care stock to overweight from neutral on Thursday. JPMorgan's call comes after Alcon — which makes Opti-Free contact lens solution — reported better-than-expected second-quarter results on Wednesday. The company also raised its full-year earnings guidance. However, the stock only rose marginally on the back of that report. Alcon stock has added more than 17% in 2023.

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Persons: Alcon, David Adlington, Adlington, — CNBC's Michael Bloom Organizations: JPMorgan, ALC Locations: Alcon