Shares of Johnson & Johnson (NYSE:JNJ) recovered slightly in early trading on Thursday, after tanking in the previous session.
The company is “uniquely positioned with Pharma and MedTech under one umbrella,” according to RBC Capital Markets.
The Johnson & Johnson Analyst: Shagun Singh initiated coverage of Johnson & Johnson with an Outperform rating and a price target of $178.
The Johnson & Johnson Thesis: The company has “unlocked potential” with the separation of its Consumer Health segment earlier this year, Singh said in the initiation note.
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Johnson & Johnson has the potential to drive its Pharma franchise to “deliver competitive growth, including in 2H of decade aided by its pipeline (five +$5B and 12 +$1B revenue potential, +65 filings 2026-30),” the analyst wrote.
He also expressed optimism around the MedTech franchise, saying it is “a top-grower with portfolio shifting and focused innovation.”
JNJ Price Action: Shares of Johnson & Johnson had risen by 0.71% to $156.62 at the time of publication Thursday.
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