Citi analyst Joanne Wuensch keeps a Buy rating on Johnson & Johnson with a $185 price target after a U.S. bankruptcy judge dismissed J&J subsidiary LTL Management’s second bankruptcy filing. This puts into question the outcome of thousands of talc lawsuits and the timely resolution of claims, the analyst tells investors in a research note. The firm anticipates further rounds in the litigation process. Citi continues to look for a more streamlined organization with the split-off of the Kenvue consumer asset, recovering elective procedures, and a pipeline in its medical device and pharmaceutical franchises.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on JNJ:
- Johnson & Johnson’s (NYSE:JNJ) Latest Talc Trouble Sinks Shares
- Judge dismisses J&J cancer lawsuit strategy for second time, Reuters says
- Judge dismisses J&J cancer lawsuit strategy again, Bloomberg reports
- Janssen submits supplemental application to FDA for Edurant
- Johnson & Johnson exec Fasolo sells 20,000 common shares