Morgan Stanley lowered the firm’s price target on Johnson & Johnson to $163 from $175 and keeps an Equal Weight rating on the shares following what the firm views as “generally in line” 2025 guidance. After the Q4 report, the firm made a number of adjustments to its model, noting that J&J expects a more pronounced impact from new product cycles as the year progresses and pointed to Rybrevant plus Lazcluze in NSCLC and Tremfya in IBD as two key drivers.
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