Why Johnson & Johnson Stock Popped on Friday
Yahoo Finance ·
Johnson & Johnson ( JNJ +3.60% ) stock jumped 3.4% through 12:20 p.m. ET Friday after Guggenheim analyst Vamil Divan raised his price target on the already buy-rated stock to $270 per share. Johnson & Johnson stock closed below $245 yesterday, suggesting Divan sees potential for the biopharmaceutical company to gain another 10.2% over the next 12 months. Add a 2.2% dividend yield , and that's a respectable 12.4% potential profit in a year. Divan updated his numbers ahead of JNJ's Q2 earnings release due July 15. Going over the numbers, he predicts modest top- and bottom-line "beats" for the company, with revenue coming in around $25.5 billion and profits of perhaps $2.87 per share. On guidance, Divan advises investors to focus on two key areas for JNJ: immunology and oncology. On the former, Tremfya, Caplyta, and Erleada prescriptions are doing better than expected, and he's thinking this trend could continue, especially for Tremfya (an anti-inflammatory).
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