BofA Raises Johnson & Johnson Price Target to $227, Neutral Rating Maintained

BofA has raised Johnson & Johnson's (JNJ) price target to $227 from $221 while maintaining a Neutral rating. The firm believes a Daubert ruling in the talc MDL case may be issued in the next 1-2 months, but the outcome is unpredictable. JNJ has announced FDA approval for DARZALEX FASPRO in combination with bortezomib, lenalidomide, and dexamethasone to treat newly diagnosed multiple myeloma ineligible for autologous stem cell transplant.