Johnson & Johnson price target raised to $175 from $165 at Stifel

Stifel raised the firm’s price target on Johnson & Johnson to $175 from $165 and keeps a Hold rating on the shares after the company delivered “a better-than-expected performance” to start off MedTech earnings season with “all three major divisions contributing to the outperformance.” J&J CEO Joaquin Duato’s “repeated emphasis” on the post-release earnings call of entering the second half of the year “from a position of strength,” together with the company’s 2023 guidance raise, left Stifel “feeling encouraged about the potential for recent positive procedure momentum to continue through 2023,” the analyst added.