Guggenheim raised the firm’s price target on Johnson & Johnson to $162 from $156 and keeps a Neutral rating on the shares. The firm is updating its J&J model following Q3 results, driven by the company’s results and updated FY24 guidance, noting that its raised target is mainly driven by modest increases in sales estimates for several products in the Innovative Medicines segment, partially offset by modestly reduced sales estimates in MedTech.
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