Morgan Stanley Sees Johnson & Johnson Taking Rx Estimates Higher
In a report published Tuesday, Morgan Stanley analyst David R. Lewis reiterated an Equal-Weight rating on Johnson & Johnson (NYSE: JNJ).
In the report, Morgan Stanley noted, “We're adjusting our pharma estimates modestly to reflect our changing market views and July sales and prescriptions data from IMS. Overall. we're taking our 2016 pharma sales estimates up by 3%, driving a 2% revision in EPS. The largest swing factors include Imbruvica and Invokana.”
Johnson & Johnson closed on Friday at $103.73.
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