Goldman Sachs lowered the firm’s price target on Johnson & Johnson to $155 from $160 and keeps a Neutral rating on the shares. The company’s Q2 results were overall largely inline with expectations, with relatively stronger performance from the Innovative Medicine business offsetting headwinds across MedTech, the analyst tells investors in a research note. Key takeaways for the quarter include Johnson & Johnson’s commentary regarding the anticipated potential impact of IRA drug pricing and negotiations on the forward, with management reiterating confidence in its previously provided growth guidance, the firm added.
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