Wells Fargo lowered the firm’s price target on Johnson & Johnson (JNJ) to $186 from $195 and keeps an Overweight rating on the shares after the company released updated financials and guidance following the Kenvue (KVUE) spin. Wells estimate no change to guidance adjusted for the spin. 2023 EPS guidance is below the firm’s prior estimate for RemainCo due to partial year share count and lower OM.
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