BofA Raises Johnson & Johnson (JNJ) Price Target on Pipeline Growth

Johnson & Johnson (NYSE:JNJ) ranks among the 14 safe stocks to buy now for a starter stock portfolio.

BofA Raises Johnson & Johnson (JNJ) Price Target on Pipeline Growth

On March 2, BofA Securities boosted its price target for Johnson & Johnson (NYSE:JNJ) to $253 from $227, while keeping a Neutral rating on the company’s shares. The firm raised its revenue expectations for Johnson & Johnson (NYSE:JNJ) to reflect new perspectives on near-to-market pipeline products, including Tecvayli for multiple myeloma and Inlexzo for bladder cancer.

The adjustments improve the firm’s revenue predictions for 2027 and 2032 by 1% to 6%, raising the five-year CAGR to 4.6% from 4.0%. Moreover, the revision raises the firm’s non-GAAP earnings per share forecast for fiscal 2027 by roughly 20 cents.

In a separate instance, Johnson & Johnson (NYSE:JNJ) has submitted a second Biologics License Application to the FDA for IMAAVY, intended to treat warm autoimmune hemolytic anemia, a health issue for which no FDA-approved therapies exist.

Johnson & Johnson (NYSE:JNJ) is a diversified healthcare company. It operates through three main segments: Innovative Medicine, MedTech, and Consumer Health. Its product range includes pharmaceuticals and medical devices, as well as widely recognized consumer brands.

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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