Johnson & Johnson (NYSE: JNJ) stock jumped 3.4% through 12:20 p.m. ET Friday after Guggenheim ***** yst 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.
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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).
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.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
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).
4 months ago
