J&J's Run to Record Highs Hasn't Reached the Finish Line Yet. Here Are the Key Drivers
Jim Cramer agrees with UBS: The rally in Johnson & Johnson shares still has room to run.
TL;DR
- UBS analysts raised their price target for Johnson & Johnson to $320 per share.
- Key growth drivers include expected top-line growth exceeding 8%, a shift to higher-margin products, and potential multiple expansion.
- Johnson & Johnson shares closed at a record high, extending a seven-session winning streak.
- Defensive stocks, including J&J, have performed well as the AI trade faces turbulence.
- The company faces no major near-term patent cliffs, with cancer drug Darzalex expected to maintain significant revenue through the next decade.
- Other growth drivers include J&J's immunology franchise with drugs like Tremfya and Icotyde, and the new robotic surgery system Ottava.