Bank of America Securities analyst Tim Anderson reiterated a Hold rating on Johnson & Johnson (JNJ – Research Report) today and set a price target of $159.00.
Tim Anderson has given his Hold rating due to a combination of factors influencing Johnson & Johnson’s financial outlook. The company’s revenue estimates for the upcoming years show modest growth, with specific increases anticipated from acquisitions and new product sales. However, these gains are somewhat offset by factors such as currency fluctuations and dilution from recent acquisitions, which have led to a slight decrease in earnings per share projections.
Additionally, the valuation of Johnson & Johnson is considered fairly valued, with a price objective set slightly above the current market price. The company’s above-average price-to-earnings ratio, coupled with average long-term growth prospects, supports the Hold rating. Furthermore, external factors such as potential impacts from tariffs on the MedTech sector add an element of uncertainty, reinforcing the decision to maintain a neutral stance on the stock.
In another report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $164.00 price target.