Johnson & Johnson’s Estimates Boosted at Two Major Firms (JNJ)

By Staff,

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Healthcare products giant Johnson & Johnson ( JNJ ) on Wednesday saw its earnings estimates raised by analysts at two major Wall Street firms.

Analysts at Citigroup said they maintain their "Buy" rating and boosted their estimates for JNJ, citing a lower expected tax rate. Citi also raised its price target for JNJ to $71, suggesting a more than 6% upside to the stock's Tuesday closing price of $66.72.

Meanwhile, analysts at UBS raised their own estimates for JNJ through 2012, noting the company is beating expectations on both top and bottom lines. The firm maintained its "Buy" rating and $80 price target, suggesting a healthy 20% upside.

J&J shares were up slightly in premarket trading Wednesday.

The Bottom Line
We have been recommending shares of Johnson & Johnson ( JNJ ) since Apr.29, 2011, when the stock was trading at $65.38. The company has a 3.42% dividend yield, based on last night's closing stock price of $66.72.

Johnson & Johnson ( JNJ ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.6 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: JNJ

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