Investment analysts at Jefferies Group boosted their target price on shares of Johnson & Johnson (NYSE: JNJ) from $75.00 to $76.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “J&J produced a solid second quarter on an operational basis. Key for us were the recently appointed CEO, Alex Gorsky’s, commentary regarding a strategic review of the business. We hope that this will see some disposals as well as acquisitions that should improve the growth and return profile for what we already view as an attractive and undervalued company.”
Johnson & Johnson traded up 1.45% on Wednesday, hitting $68.51. Johnson & Johnson has a 1-year low of $59.08 and a 1-year high of $69.70. The company has a market cap of $188.2 billion and a price-to-earnings ratio of 21.45.
Johnson & Johnson last released its earnings data on Tuesday, July 17th. The company reported $1.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.29 by $0.01. The company’s quarterly revenue was down .7% on a year-over-year basis. Analysts expect that Johnson & Johnson will post $5.07 EPS for the current fiscal year.
A number of other firms have also recently commented on JNJ. Analysts at RBC Capital raised their price target on shares of Johnson & Johnson from $65.00 to $71.00 in a research note to investors on Wednesday, July 18th. They now have a “sector perform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Johnson & Johnson in a research note to investors on Friday, June 29th. They now have a $70.00 price target on the stock. Finally, analysts at Raymond James upgraded shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, June 13th.
Johnson & Johnson is a holding company. The Company, along with its subsidiaries, is engaged in the research and development, manufacture and sale of a range of products in the healthcare field.
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