UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Johnson & Johnson

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Johnson & Johnson (NYSE: JNJ), and slightly raised its price target from $75.00 to $76.00.

Jefferies noted, “J&J produced a solid second quarter on an operational basis. Key for us were the recently appointed CEO, Alex Gorsky's, commentary regarding a strategic review of the business. We hope that this will see some disposals as well as acquisitions that should improve the growth and return profile for what we already view as an attractive and undervalued company.”

Johnson & Johnson closed on Tuesday at $69.00.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.