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Investing.com - Raymond James has raised its price target on Johnson & Johnson (NYSE:JNJ) to $209.00 from $174.00 while maintaining an Outperform rating on the healthcare giant’s stock.
The firm cited enthusiasm for Johnson & Johnson’s business despite the loss of exclusivity for Stelara affecting reported growth. Raymond James noted that the impact of this factor will begin to diminish as JNJ’s pipeline of new products drives "a powerful new era of growth through the end of the decade."
Raymond James highlighted JNJ’s commitment to U.S. manufacturing, with plans to invest $55 billion over the next four years. The firm also pointed to similar growth rates between U.S. and international markets, with international growth accelerating compared to first-half levels. The company’s current revenue growth of 5.08% and P/E ratio of 18.45x suggest a balanced approach to growth and valuation.
Looking ahead to 2026, Raymond James reported that Johnson & Johnson expects its MedTech and Innovative Medicine segments to accelerate, potentially driving revenue growth above 5%, compared to current consensus estimates of approximately 4.5%.
The firm indicated that adjusted earnings per share growth should mirror revenue growth, suggesting potential upside of more than $0.05 to current consensus estimates, and concluded that 2026 "should be de-risked heading into the new year."
In other recent news, Johnson & Johnson reported its third-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share of $2.80, exceeding the forecasted $2.76, and reported revenue of $23.99 billion, which was above the anticipated $23.76 billion. Wolfe Research raised its price target for Johnson & Johnson to $225 from $200, maintaining an Outperform rating. The firm attributed this adjustment to the company’s strong commercial execution for products like Carvykti, Tremfya, and Darzalex, as well as expected margin expansion later in the decade. Stifel also increased its price target for the company to $190 from $165, while maintaining a Hold rating. This decision followed Johnson & Johnson’s better-than-expected earnings results and positive business outlook commentary. These developments reflect growing confidence among analysts regarding the company’s future performance.
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