RBC Capital analyst Shagun Singh lowered the firm’s price target on Johnson & Johnson to $175 from $181 but keeps an Outperform rating on the shares. The company delivered in-line sales and EPS beat for Q1 while its underlying utilization trends appeared positive, with stable to improving stacked 2-year growth implying that its fundamentals are strong, the analyst tells investors in a research note. RBC adds however that its price target cut aligns the stock better with its peers.
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