RBC Capital Reiterates Outperform Rating on Johnson & Johnson (JNJ)

RBC Capital analyst Shagun Singh reiterated an Outperform rating and $175.00 price target on Johnson & Johnson (NYSE: JNJ)

The analyst comments "On 6/14, we hosted JNJ's Group President Heart Recovery & Intravascular Lithotripsy for JNJ MedTech, Michael Bodner, for a Strategy & Innovation Call. Our key takeaways are as follows: (1) Michael Bodner has a strategic plan to continue Heart Recovery & Intravascular Lithotripsy expansion aided by established category leadership; (2) JNJ's Cardiovascular business is amid a major innovation cycle that is just beginning to take hold through organic and inorganic initiatives; and (3) based on our conversations and momentum, we believe Street's 2024 JNJ MedTech Cardiovascular numbers have room for upside. We maintain Outperform/$175 PT."

For an analyst ratings summary and ratings history on Johnson & Johnson click here. For more ratings news on Johnson & Johnson click here.

Shares of Johnson & Johnson closed at $145.54 yesterday.

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