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Johnson & Johnson’s Price Target Boosted at Citigroup (JNJ)

By: Dividend.com
Posted: 10/18/2010 8:59:00 AM
Referenced Stocks: JNJ

Healthcare products giant Johnson & Johnson( JNJ ) on Monday saw its price target raised by analysts at Citigroup.

The firm said it now expects JNJ shares to rach $70, which represents an expected 10% upside to the stock's Friday closing price of $63.57.

Citigroup also reiterated its "Buy" rating on the stock, citing improving current credit trends.

Johnson & Johnson shares were mostly flat in premarket trading Monday.

The Bottom Line
We have been recommending shares of JNJ since Oct.8, 2009, when the stock was trading at $60.71. The company has a 3.40% dividend yield, based on Friday's closing stock price of $63.57.

Johnson & Johnson( JNJ ) 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 .