Pharmaceutical goods manufacturing company, Johnson &
) has been downgraded to a "Hold" by Jefferies on Monday.
The firm has downgraded JNJ from a "Buy" to a "Hold," and has
lowered its price target from $78 to $75. This price target
suggests a 6.8% increase over the stock's current price of
An analyst from the firm commented, "we upgraded J&J to Buy
in June on the back of the re-engineered financing of the Synthes
merger, which was highly accretive in our view. We looked for the
shares to re-rate to a 10-15% market premium from the 1% discount
at the time. Most of this move has occurred now and with the
MD&D day postponed and reimbursement pressures intensifying we
see the shares as fairly valued."
Johnson & Johnson shares were mostly flat during premarket
trading Monday. The stock is up 6.54% YTD.
The Bottom Line
We have been recommending shares of Johnson & Johnson (
) since Apr.27, 2012, when the stock was trading at $64.75. The
company has a 3.49% dividend yield, based on Friday's closing stock
price of $69.87.
Johnson & Johnson(
) is a "Recommended" dividend stock at this time, holding a
Dividend.com DARS™ Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
Created by Dividend.com