Morgan Stanley Sees Balance Sheet & Pipeline as More Critical for Johnson & Johnson

In a report published Wednesday, Morgan Stanley analyst David R. Lewis reiterated an Equal-Weight rating and $110.00 price target on Johnson & Johnson JNJ. In the report, Morgan Stanley noted, “Guidance confirmed 2015 will be a challenging year highlighted by pharma deceleration. Modest revenue improvement is encouraging, but performance may be tied to pharma pipeline visibility over biosimilar risk and balance sheet optionality. We remain EW.” Johnson & Johnson closed on Tuesday at $101.29.