RBC Capital raised the firm’s price target on Johnson & Johnson to $230 from $209 and keeps an Outperform rating on the shares after hosting an investor visit to the company’s headquarters. Among the firm’s positive takeaways is that JNJ‘s core MedTech business is poised to deliver mid-high single digit sales growth against a backdrop of positive healthcare utilization as the company has been focused on portfolio optimization and disciplined R&D spending on innovations, the analyst tells investors in a research note. The company’s Immunology business is also on solid footing despite Stelara loss of exclusivity, the firm added.
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