Johnson & Johnson: UBS raises to purchase

( – UBS raised its rating on Johnson & Johnson shares on Friday, from ‘neutral’ to ‘buy’ in view of the group’s next investor day, which will be held on Tuesday, December 5.

In its note, the broker says it is increasingly optimistic regarding the group’s pharmaceutical activities and forecasts growth for the ‘medtech’ branch in line with the consensus, namely around 15%.

‘With such an undemanding valuation at current levels, and which incorporates the risks linked to the talc issue, we consider J&J to be a leading diversified healthcare player given the company’s commitment to the path of innovation’, he concludes.

Its price target goes up at the same time from 167 to 180 dollars.

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