Healthcare giant Johnson & Johnson (
) on Tuesday saw its price target and earnings estimates lowered by
analysts at Goldman Sachs.
The firm said it cut its estimates for JNJ through 2012, citing
expectations of a slower recovery. Goldman maintained its "Neutral"
rating on JNJ and introduced a new $59 price target, which implies
a 6% downside to the stock's Monday closing price of $62.82.
Johnson & Johnson shares rose 36 cents, or +0.6%, in
premarket trading Tuesday.
The Bottom Line
We have been recommending shares of Johnson & Johnson (
) since Oct.8, 2009, when the stock was trading at $60.71. The
company has a 3.44% dividend yield, based on last night's closing
stock price of $62.82.
Johnson & Johnson (
) is a "Recommended" dividend stock, 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