Leerink Partners upgrades JNJ to Outperform with a $265 price target, citing revenue growth from new drugs.
Johnson & Johnson’s shares have risen 53% over the past year and 15% year-to-date, driven by optimism around its drug pipeline. Leerink Partners upgraded the stock to Outperform on May 13, raising its price target to $265 from $252, citing potential revenue growth from new pharmaceuticals.
The firm’s recent performance contrasts with broader healthcare sector volatility, as noted in market commentary. Shares gained 7.7% over the past month, outperforming peers amid market illiquidity. Analysts highlight JNJ’s competitive positioning against rivals like Merck in oncology.
Market reaction has been positive, with upgrades and price target revisions reflecting confidence in the company’s growth trajectory. The stock trades at 19 times earnings, a valuation supported by its drug development pipeline.