Johnson & Johnson price target raised to $160 from $150 at Wells Fargo

Johnson & Johnson price target raised to $160 from $150 at Wells Fargo. Wells Fargo analyst Larry raised his price target for Johnson & Johnson to $160 after the company hosted an investor call to provide an update on its Pharmaceuticals business. The analyst heard no strategic change to the business saying J&J maintains focus on its six key therapeutic areas and remains agnostic to the source of innovation. While the company did not provide 2019 guidance, management’s tone came across as confident in the business outlook, Biegelsen tells investors in a research note. He keeps an Outperform rating on Johnson & Johnson.
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