Johnson & Johnson’s Target, Estimates Cut at Goldman Sachs (JNJ)
Healthcare giant Johnson & Johnson ( JNJ ) 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 ( JNJ ) 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 ( JNJ ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.