Johnson & Johnson (JNJ) PT Raised to $230; RBC Capital: 'We See Upside'

RBC Capital analyst Shagun Singh raised the price target on Johnson & Johnson (NYSE: JNJ) to $230.00 (from $209.00) while maintaining a Outperform rating.

The analyst commented: "RBCCM East Coast Healthcare JNJ HQ Visit: MedTech & Immunology Spotlighted; We hosted investors for a JNJ HQ Visit (12/10) and met with the Heads of MedTech/Immunology. Our takeaways are: (1) JNJ's 2026 top-line reported growth commentary (exceed 5%) is a base case; (2) JNJ is positioned at the upper-end of 5-7% LRP growth given multiple MedTech/IM catalysts and P&L leverage despite headwinds (Stelara, M&A dilution, tariffs); (3) +75bps of sales/margin accretion from Ortho separation (2027E) is a base case; and (4) MedTech/Immunology catalysts are Tremfya, Icotrokinra, Ottava submission, and cardio momentum. JNJ's growth acceleration story is playing out, and we see upside. Reiterating Outperform/$230PT (prior $209)."

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