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Biotech / Medical : JNJ-Super company, Super stock!

JNJ 188.87

-0.1%

Oct 31 9:30 AM EST

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From: epicure	3/3/2005 9:07:59 AM
	of 552

Price targets lifted: Johnson & Johnson Riding Acquisition Optimism 03.02.05, 4:15 PM ET Tear Sheet \| Chart \| News Standard & Poor's Equity Research maintained a "buy" rating for Johnson & Johnson (nyse: JNJ - news - people ) and raised the price target to $75 from $70. "In our opinion, the stock's 6% year-to-date gain, compared with 0.2% for the S&P 500, reflects optimism about the pending purchase of Guidant (nyse: GDT - news - people ), subject to approvals, particularly ahead of what we anticipate will be a significant 2005 acceleration in growth within Guidant's ICD [implantable cardioverter defibrillators] business," said S&P Equity Research. "We think Johnson & Johnson shares are also benefiting from investment capital flowing into the more defensive names in the sector." The research firm reiterated its 2005 earnings-per-share estimate of $3.40 but lifted its target price to $75 "to reflect discounted cash flow, sum-of-the-parts and relative price/earnings-to-growth inputs."

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