RBC Capital analyst Shagun Singh raised the firm’s price target on Johnson & Johnson to $209 from $185 and keeps an Outperform rating on the shares as part of a broader research note on MedTech ahead of Q3 results. There is broad interest in the Medical Supplies & Devices sector, with multiple opportunities across the landscape and attractive valuations with dislocations creating opportunities, the analyst tells investors in a research note. Sentiment for JNJ is positive given improving fundamentals – Innovative Medicine upside, talc litigation manageable, and improving MedTech trajectory – and defensive positioning that contributed to the stock performance, the firm added.
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