Johnson & Johnson Stock Rating Reaffirmed by Zacks (JNJ)
Johnson & Johnson (NYSE:JNJ)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Thursday, Stock Ratings Network reports. They currently have a $99.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 5.14% from the company’s current price.
Zacks‘ analyst wrote, “J&J posted a strong third quarter with EPS coming in at $1.36, above the Zacks Consensus Estimate of $1.31 and up 8.8% y/y. Revenues increased 3.1% y/y to $17.6 billion, above the Zacks Consensus Estimate of $17.4 billion. Despite the negative impact of currency fluctuation and the lackluster performance of the medical devices segment, J&J recorded growth on the back of strong product sales. Moreover, the company upped its 2013 EPS guidance to $5.44 – $5.49. While we expect the company to continue facing headwinds in the form of pricing pressure, manufacturing issues, and U.S. healthcare reform, we believe the diversified business model, lack of cyclicality and strong financial position will continue helping the company pave its way through tough situations. We remain Neutral on the stock.”
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a dividend of 0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Friday, February 21st.
A number of other firms have also recently commented on JNJ. Analysts at Citigroup Inc. upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. Separately, analysts at Goldman Sachs Group Inc. raised their price target on shares of Johnson & Johnson from $46.00 to $50.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note to investors on Thursday. They now have a $108.00 price target on the stock, up previously from $102.00. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $81.53.
Johnson & Johnson is a holding company. The Company is engaged in the research and development, manufacture and sale of a broad range of products in the health care field.
To view Zacks’ full report, visit www.zacks.com
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