Vetr Upgrades Johnson & Johnson Following Post-Earnings Dip

The Vetr crowd on Wednesday upgraded its rating on Johnson & Johnson JNJ from 2.5 stars (Sell), issued 13 days ago, to 3 stars (Hold). Crowd sentiment at the time of the upgrade was generally negative, with 63 percent of Vetr user ratings bearish.

Vetr's downgrade comes a couple days after the consumers staples company experienced its first loss between sessions since reporting its Q3 earnings on Oct. 17. The report, which showed the company surpassing estimates for revenue and EPS by 1.87 and 5.56 percent, respectively, pushed Johnson & Johnson's stock to a new 52-week high of $144.64. It has since fallen somewhat from that high, closing Wednesday's session up slightly on the day at $142.36

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Curretnly, the Vetr crowd's average price target on Johnson & Johnson is down at $131.71, which is still above the average analyst price target of $125.41. Less than 2 percent of Vetr users are holding JNJ in their watch-lists.