Stifel Nicolaus Starts Johnson & Johnson with a “Hold” Rating (JNJ)
Analysts at Stifel Nicolaus initiated coverage on Johnson & Johnson (JNJ) on Tuesday.
Stifel Nicolaus noted, “We are initiating coverage of Johnson & Johnson (JNJ) with a Hold rating. We see JNJ as a core health care holding and total return vehicle in any environment for investors looking for safety and stability, particularly in these uncertain times. As JNJ continues to resolve recent issues and ex-FX sales growth reaccelerates modestly in each year over the next few years, JNJ shares should sustain its 12.6x forward P/E multiple, in line with the S&P 500.”
Johnson & Johnson shares were down 24 cents, or -0.34%, in premarket trading on Wednesday.
The Bottom Line
We have been recommending shares of Johnson & Johnson (JNJ) since Apr.27, when the stock was trading at $64.75. The company has a 3.50% dividend yield, based on last night’s closing stock price of $69.67.
Johnson & Johnson (JNJ) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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