Wells Fargo Believes Johnson & Johnson (NYSE: JNJ) Won’t Stop Here

By Jason Carr

In a report released today, Larry Biegelsen from Wells Fargo reiterated a Buy rating on Johnson & Johnson (NYSE: JNJ), with a price target of $160. The company’s shares opened today at $144.99, close to its 52-week high of $146.15.

According to TipRanks.com, Biegelsen is a 4-star analyst with an average return of 15.7% and a 71.8% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Merit Medical Systems.

Currently, the analyst consensus on Johnson & Johnson is Moderate Buy and the average price target is $152.77, representing a 5.4% upside.

In a report issued on January 5, Jefferies also reiterated a Buy rating on the stock with a $162 price target.

Johnson & Johnson’s market cap is currently $388.8B and has a P/E ratio of 25.14. The company has a book value ratio of 5.2550.

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