Cantor Fitzgerald Reiterates Overweight Rating on Johnson & Johnson (JNJ) Ahead of 1Q Report

Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $168.00 price target on Johnson & Johnson (NYSE: JNJ) ahead of the company's 1Q earnings report. Chen lowered 2020 sales and EPS forecasts for JNJ based on the impact of COVID-19 to the company's Medical Devices business. The decrease in 2020 numbers does not change Cantor Fitzgerald's positive investment thesis on JNJ.

Cantor Fitzgerald decreased 2020 sales estimates to $82B from $85B. FactSet consensus is at $84B and $8.74 for 2020. Chen expects consensus estimates to come down as more analysts lower their numbers ahead of JNJ's 1Q20 report.

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 $133.00 yesterday.

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