What the Options Market Tells Us About Johnson & Johnson
Portfolio Pulse from Benzinga Insights
Recent options market activity indicates a bearish sentiment towards Johnson & Johnson (JNJ), with 75% of trades being bearish. The options trading suggests a price range of $155.0 to $165.0 for JNJ in the next three months. Analysts have mixed views, with an average price target of $199.0, but recent downgrades suggest caution. JNJ's current market price is $156.51, with a slight decrease of -0.14% and an RSI indicating potential oversold conditions. The company is preparing to divest its consumer group under the name Kenvue in 2023.
February 16, 2024 | 3:46 pm
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Bearish options sentiment and analyst downgrades suggest caution for JNJ, despite an average price target of $199. Current price trends and potential oversold RSI may affect short-term performance.
The bearish sentiment in the options market, combined with recent analyst downgrades, indicates potential short-term downside for JNJ. However, the average analyst price target suggests long-term confidence. The current price trend and RSI values may lead to short-term volatility, impacting investor decisions.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100