Brean Murray Carret & Co. Starts Johnson & Johnson (JNJ) at Buy, $77 Price Target

Brean Murray Carret & Co. initiates coverage on shares of Johnson & Johnson (NYSE: JNJ) with a Buy rating and $77 price target.

The firm believes that its time for JNJ to shine. Due to a strong pipeline driving a revenue upswing in pharma, stable MD&D trends, and a trough for consumer sales, Brean Murray sees re-acceleration in its earnings.

The firm expects that Street's estimates to increase for 2012 and 2013. New products launched since 2009 accounted for around 5 percent of the company's sales in 2010, but looks to make up 25 percent by 2015.

Brean Murray Carret & Co. released its 2011 and 2012 EPS estimates at $4.96 and $5.29. Its revenue estimates for 2011 and 2012 are $64.83 billion and $67.56 billion.

For more ratings news on Johnson & Johnson click here and for the rating history of Johnson & Johnson click here.

Shares of Johnson & Johnson closed at $66.16 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Is the global equity rally broadening? UBS weighs in
• PennyMac Mortgage Investment Trust (PMT) PT Lowered to $10 by UBS on Lower MSR Earnings
• RenovoRx regains Nasdaq minimum bid price compliance