J.P. Morgan Assigns Johnson & Johnson Neutral Rating (JNJ)
January 26, 2011 11:49 AM
J.P. Morgan assigned Johnson & Johnson (NYSE: JNJ) a Neutral rating in a research report published today. J.P. Morgan has a price target of $69 for Johnson & Johnson.
In the report, J.P. Morgan states, "J&J has weathered a difficult couple of years, facing challenges on multiple fronts, including in 2008-09 generic competition for Risperdal and Topamax and the loss of significant DES share from increased competition. In 2010, economic pressures weighed on both the Medical Device and Consumer segments to a degree few had anticipated, while Pharma dealt with Healthcare reform (Est. 2010 Impact: $380M and $0.09) and newfound pricing pressures in Europe (Est. 2010 Impact: $120M and $0.03). Finally, there was McNeil, which struggled through a series of highly public recalls, pressuring both sales and EPS (Est. 2010 Impact: $900M and $0.12)."
Shares of Johnson & Johnson were trading at $60.89 at the time of posting, down 0.33% from Tuesday's market close.
