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Looking for a Strong Buy? Try Johnson & Johnson


The stock is now up 6% since being rated a Strong Buy back in September.

MINYANVILLE ORIGINAL On October 9, Goldman Sachs downgraded Johnson & Johnson (NYSE:JNJ) from Neutral to Sell with a price target of $72.00, saying it sees limited upside for the company.

The firm said it only sees 7% upside for Johnson & Johnson, versus 14% average upside for the rest of the sector.

"Although Johnson & Johnson has potential for improved growth, we believe this is already captured in valuation," the analyst said. "We see Johnson & Johnson as lacking transformational pipeline opportunities and less inclined to do shareholder-friendly capital allocation."

Well, its price target was reached in almost nine days as the stock hits new highs. went to a Strong Buy back on September 10 and never downgraded the rating as the stock dipped to $68. The stock is now up 6% since going to a Strong Buy.

If this is not a case for price leads fundamentals, I don't know what is.

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