Johnson & Johnson Medtech Business Has Promising Momentum, Analysts Say After Good Q2 Performance
Portfolio Pulse from Vandana Singh
Johnson & Johnson (JNJ) has received positive feedback from analysts following a strong Q2 performance, particularly in its Medtech business. Credit Suisse analyst Trung Huynh has increased the price target for JNJ to $175 from $170, maintaining a Neutral rating. The company has also lifted its FY23 guidance due to strong Medtech sales growth. JNJ shareholders will soon have the opportunity to exchange their shares for Kenvue shares. Despite ongoing talc litigation, analysts remain optimistic about JNJ's future.
July 21, 2023 | 5:32 pm
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POSITIVE IMPACT
Johnson & Johnson's strong Q2 performance and increased FY23 guidance may positively impact its stock price. The opportunity for shareholders to exchange JNJ shares for Kenvue shares could also influence the stock's performance.
Johnson & Johnson's strong Q2 performance and increased FY23 guidance indicate a positive outlook for the company, which could attract more investors and drive up the stock price. The upcoming opportunity for shareholders to exchange JNJ shares for Kenvue shares could also influence the stock's performance, depending on the perceived value of Kenvue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100