We recently compiled a list of the 10 Firms Post Impressive Gains on Monday. In this article, we are going to take a look at where Johnson & Johnson stands against the other stocks.
Wall Street ended the first trading day of the week on a mixed note, with the Dow Jones the sole gainer, up 0.65 percent.
The S&P 500 and Nasdaq both fell by a whopping 1.46 percent and 3.07 percent, respectively, over fears that China is overtaking the US in innovations in the Artificial Intelligence industry, dampening confidence at a time when the world’s largest economy is bolstering investments in the sector.
Meanwhile, ten companies under mixed sectors ended the day stronger. In this article, we will take a look at which of the 10 companies posted impressive gains during a broader market pessimism and look at the reasons behind their rally.
Monday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A smiling baby with an array of baby care products in the foreground.
Johnson & Johnson (NYSE:JNJ)
Pharmaceutical giant Johnson & Johnson grew its share prices by 4.14 percent to close at $152.89 apiece as investors took heart from an investment bank’s rating upgrade of the company.
On Monday, Barclays analyst Matt Miksic boosted his price target for Johnson & Johnson to $166 from $159 previously on the back of a strong fourth-quarter earnings performance.
Particularly, its oncology segment showed strength that offset weaker areas namely electrophysiology and surgery.
In other news, Johnson & Johnson is currently on a shopping spree of other pharmaceutical firms, with the latest being Intra-Cellular Therapies which it plans to acquire for $14.6 billion.
The transaction would mark the latter’s biggest deal in more than two years, bolstering its presence in the brain disease treatments market.
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This article is originally published at Insider Monkey.