Time To Buy Johnson & Johnson? One Analyst Sees The Stock's Price Gaining Over 40%

Johnson & Johnson JNJ has caught the attention of analysts recently. Cantor Fitzgerald reiterated its Overweight rating on May 6, 2024. The firm maintains a price target of $215, implying a 44.75% upside from the current price of $148.53.

The consensus price target for Johnson & Johnson stands at $171.24, based on 94 recent analyst ratings. The last three ratings come from Cantor Fitzgerald, HSBC, and Morgan Stanley. These firms issued their opinions between April 17 and May 6, 2024. The average price target from these three analysts is $184, suggesting a 23.88% upside potential.

Johnson & Johnson’s Q1 2024 earnings release highlights the company’s solid performance. The company reported a 2.3% increase in sales to $21.4 billion. Adjusted earnings per share grew 12.4% to $2.71. The company also raised its full-year 2024 operational sales and adjusted operational EPS guidance.

Income investors will appreciate Johnson & Johnson’s commitment to dividends. The company has increased its dividend for 61 consecutive years. With a forward dividend rate of $4.96 and a yield of 3.32%, Johnson & Johnson remains an attractive option for dividend seekers. The company’s 5-year dividend growth rate stands at 5.75%.

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Johnson & Johnson remains a solid choice for investors seeking steady dividends and potential price appreciation. However, those looking for even higher yields may find the Cityfunds Yield fund an interesting alternative to explore.