Johnson & Johnson Price Target Raised at Deutsche Bank (JNJ)
Created by Dividend.com
Healthcare giant Johnson & Johnson (JNJ
) saw its price target boosted on Monday by analysts at Deutsche Bank.
The analyst reiterated its “buy” rating on JNJ, and raised its price target on the stock to $67 from a prior $63. Johnson & Johnson shares had closed on Friday at $61.74.
Deutsche Bank said that “improving comparable multiples, new product approvals, stabilization in the global economy, and FX tailwinds [should] add to earnings in 4Q and next year. We expect management will focus on continued healthy trends in its Medical Device & Diagnostic division, which will be the highlight of Tuesday’s earnings meeting. We maintain our Buy and continue to favor J&J as a solid long-term investment.”
Johnson & Johnson shares rose 60 cents, or +1%, in morning trading Monday.
The Bottom Line
We recently added shares of JNJ to our “recommended” list when the stock was trading at $60.71. The company has a dividend yield of 3.17%, based on Friday’s closing stock price of $61.74.
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.
