Johnson & Johnson Price Target Increased to $90.00 by Analysts at Jefferies Group (JNJ)
Equities researchers at Jefferies Group raised their target price on shares of Johnson & Johnson (NYSE: JNJ) from $85.00 to $90.00 in a report issued on Friday, AnalystRatingsNetwork reports. The firm currently has a “hold” rating on the stock.
The analysts wrote, “We were unimpressed with the Q1’13 earnings given that one-off benefits in Pharma made up for the miss in MD&D. Key Pharma growth franchises such as Zytiga, Incivo and Xarelto performed well and Consumer made decent progress in its recovery. Dividend yield and PEG valuations are beginning to look fully valued and we suspect outperformance will be limited from here.”
Shares of Johnson & Johnson (NYSE: JNJ) traded up 0.84% during mid-day trading on Friday, hitting $83.88. Johnson & Johnson has a 52 week low of $61.71 and a 52 week high of $84.43. The stock’s 50-day moving average is currently $80.20. The company has a market cap of $234.5 billion and a P/E ratio of 22.59.
Johnson & Johnson (NYSE: JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.41 by $0.03. The company had revenue of $17.50 billion for the quarter, compared to the consensus estimate of $17.46 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Johnson & Johnson has set its FY13 guidance at $5.35-5.45 EPS. Analysts expect that Johnson & Johnson will post $5.40 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated a “sector perform” rating on shares of Johnson & Johnson in a research note to investors on Thursday. They now have a $82.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Johnson & Johnson from $80.00 to $96.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Johnson & Johnson in a research note to investors on Wednesday. They now have a $88.00 price target on the stock.
Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $86.27.
Johnson & Johnson is a holding company. The Company, along with its subsidiaries, is engaged in the research and development, manufacture and sale of a range of products in the healthcare field.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.