Johnson & Johnson price target raised to $183 from $179 at Morgan Stanley

Morgan Stanley analyst Terence Flynn raised the firm’s price target on Johnson & Johnson to $183 from $179 and keeps an Equal Weight rating on the shares. J&J reported a Q1 "beat and raise," but the stock traded down, which the firm believes could be due to a number of potential drivers, including the fact that some investors interpreted the CFO’s comments on the Q1 call in response to a question as a lack of reiteration of the $57B 2025 Pharma revenue target. However, IR clarified that "his comments were not meant to be a walk back from this figure," the analyst tells investors. J&J also disclosed on the call that the MARIPOSA Phase 3 trial of Rybrevant plus Lazertinib in first-line NSCLC had passed an interim, blinded analysis and was continuing to the final analysis, which could have also been a contributor, the firm added. After the report, the firm made a number of adjustments to its model for Q1 results and trends.