Johnson & Johnson (JNJ) Deal for Smith & Nephew (SNN) Not Likely, Says BofA/Merrill Lynch

BofA/Merrill Lynch maintained a Neutral rating on Johnson & Johnson (NYSE: JNJ) with a price target of $105. Analyst Bob Hopkins noted recent comments from management suggesting it may be considering large scale M&A. However, Hopkins does not think a potential deal for Smith & Nephew (NYSE: SNN) or a deal in orthopedics is likely given how challenged the Synthes integration has been. Rather, he thinks Johnson & Johnson will focus on innovation in cardio and may look at large diversified cardio players.

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 $92.99 yesterday.

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