Johnson & Johnson has reported a modest Q3 revenue miss, but still managed to beat consensus EPS expectations on the strength of its “Other Income” category. After selling off hard on Tuesday’s open, the stock has now rebounded to flat as the market seems not to know what to make of the report.
Here’s what four Wall Street firms had to say following Johnson & Johnson’s earnings.
Morgan Stanley
Analyst David Lewis saw the announcement of a $10 billion in buyback as “an incremental positive in terms of capital,” but is unsure of what the buyback means in terms of M&A prospects. The firm has an Equal-Weight rating on the stock.
Goldman Sachs
Analyst Jami Rubin saw…
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