As previously reported, Goldman Sachs assumed coverage and upgraded Johnson & Johnson to Buy from Neutral with a price target of $172, up from $157. The firm says concerns around the Stelera loss of exclusivity are overdone. Consensus estimates are underappreciating the trajectory of the J&J’s Innovative Medicine business as the company laps the Stalera cliff into numerous new product cycles across multiple large markets, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JNJ:
- Johnson & Johnson announces results from Vivacity-MG3 study
- Johnson & Johnson assumed with a Buy at Goldman Sachs
- JNJ, WMT, or AMZN: Which Mega-Cap Stock Is the Best Pick?
- J&J announces EC approved extension of marketing authorization for Rybrevant
- Johnson & Johnson Faces Legal Hurdles: Stock Tumbles