JP Morgan Reiterates JNJ Neutral Rating

JP Morgan has issued a report maintaining a Neutral Rating on Johnson & Johnson JNJ. According to the report, "J&J reported solid 2Q results yesterday morning. Sales of $16.597B (+8.3% reported, +2.6% cc, +2.0% organic) were $363M (+240bp) ahead of the Street, owing to better than expected FX (+100bp) and inventory stocking for Remicade and Concerta (+110bp)." JNJ has a $69 Price Target and closed at $66.72 a share yesterday.