S&P Capital IQ Reiterates its BUY Rating on Johnson & Johnson

October 19 00:00 2011

NEWYORK, October 19 (RainbowNewsLine.com) – Analyst Herman Saftlas of S&P Capital IQ reiterates his BUY rating on the shares of Johnson & Johnson ( NYSE: JNJ). The target price is set to $73.

Analyst Herman Saftlas, in a research note published yesterday mentions that the company reported Q3 EPS ahead of the estimates. The Q3 EPS excluded a recurring cost of $0.09, while  sales rose by 6.8% reflecting gains in drugs, devices, and consumer items. Launches of new products and expansion in emerging markets supported the company in solidifying its leadership in global healthcare markets, the analyst adds. The analyst reiterates the target price, considering the planned acquisition of Synthes that would enhance the medical device business in 2012 and approval of four major drugs in 2011.