Jefferies Downgrades Johnson & Johnson (JNJ) to Hold

Jefferies downgraded Johnson & Johnson (NYSE: JNJ) from Buy to Hold with a price target of $105.00 citing recent outperformance.

Analyst Jeffrey Holford, PhD comments, "After flagging cheap valuation and strong growth drivers in Pharmaceuticals in our March edition, we have seen decent outperformance in JNJ shares. Whilst we still like the fundamentals of JNJ, we do not see enough upside with our $105 PT to retain a buy rating and downgrade the shares to Hold."

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 $96.87 yesterday.

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