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Johnson & Johnson (NYSE:JNJ) is included among the Best Dividend Stocks for the Best Retirement Portfolio.
On October 22, Freedom Capital Markets has lowered its rating on Johnson & Johnson (NYSE:JNJ) from Buy to Hold, even as it raised the stock’s price target from $180 to $190 following a solid third-quarter performance.
The healthcare company delivered results that surpassed both analyst expectations and market consensus, leading J&J to boost its revenue guidance for the third time this year while keeping its adjusted EPS forecast unchanged. Growth during the quarter was largely driven by the Oncology division within Innovative Medicine and the Cardiovascular business under MedTech. A key highlight was the FDA approval of INLEXZO, a new treatment for bladder cancer.
In addition, Johnson & Johnson (NYSE:JNJ) revealed plans to separate its Orthopedics division into an independent company, a strategic move aimed at sharpening its focus on faster-growing and higher-margin areas. Freedom Capital Markets noted that the downgrade was primarily due to the stock trading close to its fair value estimate. The firm also pointed to ongoing uncertainty surrounding US-China tariffs, which could weigh on global supply chains and profitability.
Johnson & Johnson (NYSE:JNJ) is popular among income investors because of its 63-year-long dividend growth streak. As of October 27, the stock has a dividend yield of 2.73%.
While we acknowledge the potential of JNJ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Best Beaten Down Dividend Stocks to Buy Right Now and 11 High-Yield Dividend Stocks for Steady Cash Flow.
Disclosure: None.
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