Guggenheim Raises Johnson & Johnson (JNJ) Target on Icotyde Upside, Keeps Buy Rating

Johnson & Johnson (NYSE:JNJ) is included among the 10 Best Dow Stocks to Invest in Now.

Guggenheim Raises Johnson & Johnson (JNJ) Target on Icotyde Upside, Keeps Buy Rating

On April 20, Guggenheim Partners raised its price recommendation on Johnson & Johnson (NYSE:JNJ) to $266 from $244. It reiterated a Buy rating on the shares. The firm updated its model after the company’s Q1 earnings and took a closer look at the Icotyde opportunity following its approval in plaque psoriasis last month. It now sees higher potential from the drug, raising its unadjusted peak revenue estimate to $14.9 billion from about $10 billion, the analyst noted.

During the Q1 2026 earnings call, Vice President of Investor Relations Darren Snellgrove said worldwide sales reached $24.1 billion for the quarter. He also reported net earnings of $5.2 billion, with diluted EPS at $2.14 and adjusted diluted EPS at $2.70.

Executive Vice President and CFO Joseph Wolk said the company ended the quarter with around $22 billion in cash and marketable securities, along with $55 billion in debt. He added that free cash flow came in at about $1.5 billion for the quarter. The board also approved a 3.1% increase in the annual dividend, bringing it to $5.36 per share.

Johnson & Johnson (NYSE:JNJ) operates across the healthcare sector, focusing on the research, development, manufacturing, and sale of a wide range of products. Its business is organized into two segments: Innovative Medicine and MedTech.

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