Johnson & Johnson: Balance Growth Between MedTech And Medicine, Initiate With A 'Buy'

Sundry Photography Johnson & Johnson (NYSE:JNJ) reported Q4 earnings on January 23 that exceeded expectations, reaffirming guidance for FY24. The company recently spun off its consumer health subsidiary, Kenvue (KVUE), in 2023, redirecting its focus toward pharmaceuticals and medical devices. I am initiating coverage with a 'Buy' rating and a fair value target of $180 per share. 5-7% Growth in their Pharma Business JNJ stands as the second-largest pharmaceutical company globally, presenting a diverse po ...