UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Johnson & Johnson as Defensive Stock

In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on

, and raised the price target from $100.00 to $102.00. In the report, Deutsche Bank noted, “Q14 Sales and EPS Beat on Pharma; Maintain Hold. J&J's sales and EPS were ahead of Consensus, once again driven by outperformance in Pharma. Total sales were up 5.3% ex-FX as growth in Pharma (up 12.2%) was partially offset by MD&D (up 1.8%) and Consumer (down 0.6%). The JNJ investment case remains unchanged. Pharma should continue to drive results, which we believe is well-established and appreciated by the market. We maintain our Hold rating. In volatile markets, we believe JNJ is likely to prove to be a defensive stock.” Johnson & Johnson closed on Tuesday at $99.20.