BofA raised the firm’s price target on Johnson & Johnson to $204 from $198 and keeps a Neutral rating on the shares after a “modest beat” in Q3 along with FY25 revenue guidance being “raised very slightly” at the mid-point and EPS guidance being maintained. Plans to spin out the orthopedic side of MedTech “makes sense” in the long-term as DePuy Synthes should benefit from improved focus and become more competitive, the analyst added.
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