Johnson & Johnson’s Price Target Cut at UBS (JNJ)

By Staff,

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Healthcare products maker Johnson & Johnson ( JNJ ) on Wednesday saw its price target lowered by analysts at UBS.

The firm said it cut its target for JNJ to $74, which suggests a nearly 13% upside to the stock's Tuesday closing price of $65.77. UBS said it made the move due to lower recent market multiples in the healthcare space, but maintained its "Buy" rating.

Johnson & Johnson shares posted modest gains in premarket trading Wednesday.

The Bottom Line
Shares of Johnson & Johnson ( JNJ ) have a 3.47% dividend yield, based on last night's closing stock price of $65.77. The stock has technical support in the $60-$62 price area. If the shares can firm up, we see overhead resistance around the $66-$68 price levels.

Johnson & Johnson ( JNJ ) is not recommended at this time, holding a DARS™ Rating of 3.4 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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