Johnson & Johnson Cut to “Neutral” at Deutsche Bank; Stock Appears Fully Valued (JNJ)
Diversified healthcare giant Johnson & Johnson (JNJ) on Wednesday caught a big downgrade from analysts at Deutsche Bank.
The firm lowered its rating on JNJ from “Buy” to “Neutral” with a $93 price target, suggesting a small upside to the stock’s Tuesday closing price of $90.40. Deutsche Bank noted that the stock looks fully valued at current levels, given that any major catalysts and better fundamentals have already been priced into the stock.
JNJ shares rose 49 cents, or +0.54%, in early trading Wednesday.
The Bottom Line
Shares of JNJ currently offer a 2.92% dividend yield, based on Tuesday’s closing price of $90.40 and the company’s annualized dividend payout of $2.64 per share.
Johnson & Johnson (JNJ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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