Morgan Stanley raised its price target for Johnson & Johnson to $283 from $267. The bank reiterated its Overweight rating on the shares. Analysts now value the company for its durable earnings growth potential rather than as a slow-growing incumbent.
The update follows strong first-quarter 2026 results released on April 14. Johnson & Johnson exceeded analyst estimates for the quarter. The company raised its full-year guidance following the performance. It also announced its 64th consecutive annual dividend increase.
J&J stock declined on April 16 despite the positive earnings news. Analysts attributed the drop to profit-taking and concerns regarding biosimilar competition for the drug Stelara.