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Johnson & Johnson - Bull Of The Day
By Zacks Investment Research on October 13, 2008 | More Posts By Zacks Investment Research | Author's Website
Johnson & Johnson (NYSE:JNJ) is one of the world’s largest providers of healthcare products in the consumer, pharmaceutical and medical devices market. It has over 200 operating companies around the world and sells its products in more than 175 countries. J&J has an enormously diverse revenue stream consisting of market leading products in all three of its business segments.
Due to a number of products expected to experience declining sales, revenue growth in the next few years will likely slow relative to 2007. Incremental earnings growth will come in the form of improving margins and share buybacks. J&J’s consistency, product diversity and financial stability make it a very attractive holding in this turbulent market.
We are upgrading our recommendation from Hold to Buy based on the stock’s attractive valuation and strong company fundamentals. Our price target is $70.
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