J.P. Morgan Reports Johnsn & Johnson turning positive

According to J.P. Morgan, Johnson & Johnson JNJ is turning positive. J.P. Morgan said that J&J has weathered a difficult couple of years, facing challenges on multiple fronts, including in 2008-09 generic competition for Risperdal and Topamax and the loss of significant DES share from increased competition. “In 2010, economic pressures weighed on both the Medical Device and Consumer segments, while Pharma dealt with Healthcare reform and newfound pricing pressures in Europe. Finally, McNeil has struggled through a series of highly public recalls, which led to the company signing a Consent Decree in March. These challenges have been reflected in the share performance, with the stock underperforming the S&P by 60% since the March 2009 market bottom.” Johnson & Johnson closed yesterday at $62.69.