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Johnson & Johnson (NYSE:JNJ) is one of the most profitable blue chip stocks to invest in now. On March 11, Citi lifted the price target on Johnson & Johnson (NYSE:JNJ) to $274 from $250 while maintaining a Buy rating on the shares. The firm told investors in a research note that it adjusted price targets in the medical technology group after the release of the fiscal Q4 reports, adding that despite the recent volatility, sector fundamentals remain “healthy”. Citi also stated that its top picks are iRhythm and Medtronic.
In a separate development, Johnson & Johnson (NYSE:JNJ) announced on March 10 the submission of a Type II variation application to the European Medicines Agency (EMA) seeking approval for an indication extension of TECVAYLI® as monotherapy to treat adult patients with relapsed/refractory multiple myeloma who have received at least one prior therapy.
Johnson & Johnson (NYSE:JNJ) further reported that the data from the Phase 3 MajesTEC-9 trial support the submission, which evaluates the safety and efficacy of teclistamab compared to the standard of care of pomalidomide, bortezomib, and dexamethasone or carfilzomib and dexamethasone in 614 patients with RRMM.
Johnson & Johnson (NYSE:JNJ) develops, manufactures, and sells products in the healthcare field. The company operates through two segments: Innovative Medicine and MedTech. The Innovative Medicine segment focuses on various therapeutic areas, including oncology, infectious diseases, immunology, cardiovascular and metabolic diseases, and others. The MedTech segment includes an elaborate range of medical devices and products used in cardiovascular intervention, orthopedics, interventional solutions, surgery, and vision fields.
While we acknowledge the potential of JNJ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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