Goldman Sachs analyst Asad Haider has maintained their bullish stance on JNJ stock, giving a Buy rating on June 5.
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Asad Haider has given his Buy rating due to a combination of factors that highlight Johnson & Johnson’s strategic positioning and growth potential. The company’s engagement in policy discussions with the administration, aligning with its peers, suggests a proactive approach to navigating regulatory landscapes, which could lead to favorable outcomes in areas like PBM and 340B reform.
Furthermore, Johnson & Johnson’s advancements in its pharmaceutical pipeline, such as the promising data from Carvykti and the anticipated approval of TAR-200, underscore its innovative capabilities. The company’s strategic focus on replacing Stelara with Tremfya, bolstered by investments in commercial fulfillment, indicates a strong commitment to maintaining its market position. These elements collectively contribute to Haider’s positive outlook on the stock.
In another report released on June 5, RBC Capital also maintained a Buy rating on the stock with a $181.00 price target.
JNJ’s price has also changed slightly for the past six months – from $146.640 to $155.260, which is a 5.88% increase.
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