Johnson & Johnson (JNJ) Estimates, PT Raised at Piper Jaffray Ahead of Q2 Print

Piper Jaffray analyst Matt Miksic raiesd estimates and his price target on Johnson & Johnson (NYSE: JNJ) to $110.00 (from $105.00) but maintained a Neutral rating.

Miksic said analysis of Q2 IMS scrips and sales suggests substantial upside for JNJ’s U.S. Pharma sales, tracking ~$500 mil above our expectations, which could drive as much as 5c in theoretical upside to EPS for Q2.

JNJ reports Q2 resultsbefore market open on July 15.

For an analyst ratings summary and ratings history on Johnson & Johnson click here. For more ratings news on Johnson & Johnson click here.

Shares of Johnson & Johnson closed at $104.62 yesterday.

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