Morgan Stanley provided color on Johnson & Johnson JNJ ahead of the company's analyst day. In a research report published today, Morgan Stanley expressed its belief the company will soon turn the corner with the introduction of new products.
In the report, Morgan Stanley states, "After several years
of disappointing productivity and multiple generic losses,
J&J is poised to launch several drugs with $1+ billion
potential. We model pharma growth to reaccelerate to a
4.2% CAGR over 2011-14 from a -3.4% CAGR over
2007-10. From 2010-14, we estimate that incremental
sales from new products will be 2.5x the magnitude of
sales lost to generics."
At the moment, Morgan Stanley has an Equal-weight rating on JNJ.
On Tuesday, JNJ added 0.34% to its value to close the day at $65.78. Its shares continued to rise in today's pre-market trading, as they gained 1.12% to currently stand at $66.52.
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