Up more than 30% since late March, Johnson & Johnson (NYSE:JNJ)
shares have mostly priced in scenario for 2021 and beyond where things
have returned to normal, says analyst Kevin Caliendo, downgrading to
Neutral from Buy.
Caliendo is also cautious on the company’s medical
device and pharmaceutical units, and thus trims his 2020 and 2021
revenue and EBITDA estimates.
His $160 price target comes against yesterday’s close of $154.29.
https://seekingalpha.com/news/3565191-ubs-heads-to-sidelines-on-j-and-j-after-big-rally
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