Johnson & Johnson price target raised to $240 from $230 at Wells Fargo

Wells Fargo raised the firm’s price target on Johnson & Johnson to $240 from $230 and keeps an Overweight rating on the shares. The firm sees 2026 sales/EPS guidance generally came in better than expected, despite depressed Q1 EPS due to investment. Management reiterated line of sight to double digit sales growth by end of decade, which seems to be largely based on in-market and late-stage pipeline, Wells adds.