Oct. 5 at 12:08 PM
$JNJ Johnson and Johnson is a buy as executives project strong medicine sales over the next two years and as the company expands its drug-making operations in the U.S., according to Wells Fargo.
The bank upgraded the pharma giant to overweight from equal weight. It also raised its price target for shares to
$212 from
$170, implying about 14% upside.
“Given the potential upside to JNJ’s Pharma business, lower Pharma tariff and pricing risk, and investor confidence that JNJ can grow through the Stelara LOE, we could see JNJ’s valuation move higher,” analyst Larry Biegelsen said Friday in a note to clients.
