Guggenheim raised the firm’s price target on Johnson & Johnson to $266 from $244 and keeps a Buy rating on the shares. The firm is updating its model following the company’s Q1 earnings this week and a detailed analysis on the Icotyde opportunity following its approval in plaque psoriasis last month. The firm is raising its Icotyde unadjusted peak revenue estimate to $14.9B from about $10B, the analyst noted.
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