Johnson & Johnson: Credit Suisse cuts target price
(CercleFinance.com) - Credit Suisse has lowered its target price for the Johnson & Johnson share from 170 dollars to 159 dollars, to reflect potential Covid-19 risks, but reiterated its "outperform" on the stock.
In a note to clients, the broker said that it has made changes to model reflecting its analysis of the potential impact of the coronavirus on J&J's major businesses.
Credit Suisse has cut EPS estimates for 2020 and 2021 by over 10% and has also lowered its sales estimates for 2020 and 2021 by 5.7% and 0.7% respectively.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the broker said that it has made changes to model reflecting its analysis of the potential impact of the coronavirus on J&J's major businesses.
Credit Suisse has cut EPS estimates for 2020 and 2021 by over 10% and has also lowered its sales estimates for 2020 and 2021 by 5.7% and 0.7% respectively.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.