Barclays Maintains a Hold Rating on Johnson & Johnson (JNJ) With a $176 PT

Johnson & Johnson (NYSE:JNJ) is one of the best medical stocks to buy now. In a report released on September 30, Matt Miksic from Barclays maintained a Hold rating on Johnson & Johnson (NYSE:JNJ) and set a price target of $176.00.

Johnson & Johnson (JNJ): A Dividend Aristocrat With Unmatched Stability

The rating update came after Johnson & Johnson (NYSE:JNJ) reported on September 29 the approval of TREMFYA for “pediatric patients living with moderate to severe plaque psoriasis, who are candidates for systemic therapy or phototherapy, and active psoriatic arthritis in children six years and older, weighing at least 40 kg”.

Management reported that the approval was based on the PROTOSTAR study that demonstrated pediatric patients receiving TREMFYA attained high levels of skin clearance vs. placebo at Week 16.

Johnson & Johnson (NYSE:JNJ) develops, manufactures, and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech.

The MedTech segment includes an elaborate range of medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery, and vision fields.

While we acknowledge the potential of JNJ to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than JNJ and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.