Goldman Sachs keeps a Buy rating and $265 price target on Johnson & Johnson ahead of its Q1 earnings. The company had a “banner year” in 2025 with a remarkable turnaround in its Innovative Medicines franchise post the Stelara loss of exclusivity, and a stabilization of the MedTech business, and shares have continued to outperform 2026 year-to-date as the narrative shifts to a commercial momentum story with multiple new product cycles triggering an ongoing valuation re-rate into a sustained period of accelerating growth, the analyst tells investors in a research note.
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