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Strategies & Market Trends : Love shack

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To: Grandk who started this subject12/28/2000 11:12:20 AM
From: Grandk   of 322
 
US Warburg asks everyone to buy more of their JNJ shares.
JNJ breaking out to new year highs here. Almost everyone is in now. I expect a strong sell off to ensue within the next week that takes JNJ below 100.

UBS Warburg Reiterates J&J As Strong Buy

NEW YORK (Reuters) - UBS Warburg on Thursday said it reiterated a strong buy rating on diversified health care giant Johnson & Johnson (NYSE:JNJ - news).

It also retained its 12-month target price of $115 on J&J stock.

Analyst David Lothson said that 4 cents per share charge is to be taken from the company's net income in the fourth quarter because of J&J's acquisition of Atrionix Inc., a company that develops a system to treat heart disorder atrial fibrillation.

J&J on Wednesday said it had completed the acquisition with Atrionix in an all-cash deal valued at $62.8 million.

J&J shares closed down at $103 on Wednesday on the New York Stock Exchange (news - web sites). The stock price has a 52-week range between $66-3/16 and $104-3/4.
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