Goldman Sachs analyst Chris Shibutani reinstated coverage of Johnson & Johnson with a Neutral rating and $160 price target. The firm expects that J&J’s revenue and earnings growth over 2024 and 2025 is likely to remain tethered at relatively modest low single-digit levels as the portfolio navigates near-term headwinds from major product loss of exclusivities, the analyst tells investors. The firm also remains “more cautious” with its forecasts relative to management’s longer-term growth objectives, the analyst added.
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