J.P. Morgan Previews 2Q Results For JNJ

J.P. Morgan is maintaining its Neutral rating and its $69 price target on Johnson & Johnson JNJ in advance of the company's 2Q numbers, which are to be released one week from today. Says J.P. Morgan, in its report, “J&J will kick off 2Q earnings season when it reports next Tuesday, July 19. We expect J&J to top Street estimates, led by an Fx tailwind and reduced operating spend. Organic growth remains limited, but beyond the quarter we see a pathway for improving performance at J&J fueled by new Pharma launches and easier comps in MD&D and Consumer.” JNJ closed yesterday at $67.27.