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Johnson & Johnson Now a “Buy” at Goldman Sachs (JNJ)
Health care products giant Johnson & Johnson ( JNJ ) on Wednesday saw its rating and price target boosted by analysts at Goldman Sachs.
The firm said it upgraded JNJ from "Neutral" to "Buy" and raised its price target from from $64 to $77. That new target suggests a 17% upside to the stock's Tuesday closing price of $65.76.
A Goldman analyst commented, "After two years of earnings and stock underperformance, JNJ may now be on the cusp of an accelerating earnings trajectory, driven by an emerging new product cycle in Pharma, signs of stabilization in MD&D, and a bottoming out in Consumer."
Johnson & Johnson shares rose 69 cents, or +1.1%, in premarket trading Wednesday.
The Bottom Line
We recently began recommending shares of Johnson & Johnson ( JNJ ) back on Apr.29, 2011, when the stock was trading at $65.38. The company has a 3.47% dividend yield, based on last night's closing stock price of $65.76.
Johnson & Johnson ( JNJ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.