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A report from Citi reiterates its Buy rating and lowers its price target from $72 to $70 on Johnson & Johnson
JNJ.
The report states, “Behind our Biotech team's new market share forecasts for the global hepatitis-c market, we are adjusting forecasts for JNJ's Incivo but leaving our forecast for TMC-435 largely intact. We are also adjusting our forecasts down to reflect a heavier FX hit than our last update on 10/20. The net result is lower estimates.”
JNJ closed yesterday at $62.37.
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