Jefferies Downgrades Johnson & Johnson (JNJ) to Hold, Easy Money Made
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Price: $156.76 -0.9%
Rating Summary:
15 Buy, 14 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
Rating Summary:
15 Buy, 14 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Jefferies downgraded Johnson & Johnson (NYSE: JNJ) from Buy to Hold with a price target of $75.00 (from $78.00), saying the easy money has been made.
The firm comments, "We upgraded J&J to Buy in June on the back of the re-engineered financing of the Synthes merger, which was highly accretive in our view. We looked for the shares to re-rate to a 10-15% market premium from the 1% discount at the time. Most of this move has occurred now and with the MD&D day postponed and reimbursement pressures intensifying we see the shares as fairly valued."
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 $69.87 yesterday.
The firm comments, "We upgraded J&J to Buy in June on the back of the re-engineered financing of the Synthes merger, which was highly accretive in our view. We looked for the shares to re-rate to a 10-15% market premium from the 1% discount at the time. Most of this move has occurred now and with the MD&D day postponed and reimbursement pressures intensifying we see the shares as fairly valued."
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 $69.87 yesterday.
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