Johnson & Johnson Shares Hold Steady After Q1 Earnings, Analysts Optimistic About Future
Portfolio Pulse from Vandana Singh
Johnson & Johnson (NYSE:JNJ) reported Q1 adjusted EPS of $2.71, up 12.4% YOY, beating consensus of $2.64, with sales of $21.38 billion, up 2.3% YOY. Cantor Fitzgerald remains positive, maintaining an Overweight rating with a price target of $215, citing underappreciated potential in products like Taris and Carvykti. Goldman Sachs highlighted variances in pharmaceutical performance, with Stelara and Xarelto underperforming, but noted strong growth in the Multiple myeloma franchise with Darzalex. JNJ shares slightly down at $144.26.
April 17, 2024 | 7:37 pm
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POSITIVE IMPACT
Johnson & Johnson reported strong Q1 earnings, with EPS and sales growth. Analysts remain positive, with Cantor Fitzgerald setting a $215 price target. Goldman Sachs noted some pharmaceutical performance variances.
The positive earnings report and optimistic analyst ratings, especially the Overweight rating and $215 price target from Cantor Fitzgerald, suggest a potential short-term upside for JNJ shares. However, the slight dip in share price indicates market reactions may be mixed, possibly due to the variances in pharmaceutical performance highlighted by Goldman Sachs.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100