Johnson & Johnson (JNJ): Notes From Management Meetings - UBS
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UBS analyst, Matt Miksic, reiterated his Buy rating on shares of Johnson & Johnson (NYSE: JNJ) after a series of meetings with management in Zurich and Geneva. The company reviewed the strategy and opportunities behind its recently announced AMO acquisition, and the growth drivers and investment opportunities across its three major businesses.
The analyst was encouraged that, despite the pending deployment of cash for AMO, the company remains committed to putting its $30-35 bil in excess capital to work in a disciplined fashion to enhance shareholder value.
No change to the price target of $137.
Shares of Johnson & Johnson closed at $119.22 yesterday.
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