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RBC initiates Johnson & Johnson with Outperform rating, sets target price at US$178

Mon 09 Oct 23, 06:21 AM | Akanksha Vashisht

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Summary

Brokerage RBC initiated its coverage on Johnson & Johnson (NYSE: JNJ), giving the stock an ‘outperform’ rating. The broker et its price target at US$178, an upside potential of over 13% over Thursday’s closing price.

The broker stated that JNJ’s current trading is in line with past multiples. Additionally, the broker commented that Johnson & Johnson’s improved financial health after consumer health spin off should also act in the company’s benefit.

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