{"id":721169,"date":"2010-04-21T11:14:00","date_gmt":"2010-04-21T15:14:00","guid":{"rendered":"e2249889-c78b-43e3-9643-b1d7d4aa587b:426269"},"modified":"2010-04-21T11:14:00","modified_gmt":"2010-04-21T15:14:00","slug":"johnson-johnsons-slow-growth-already-discounted-by-markets","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/721169","title":{"rendered":"Johnson &amp; Johnson&#8217;s slow growth already discounted by markets"},"content":{"rendered":"<p><a href=\"http:\/\/www.financialpost.com\/markets\/company\/index.html?symbol=JNJ&amp;id=270227\" >Johnson &amp; Johnson&#39;s<\/a> slower growth future has already been discounted by investors, leaving shares pretty close to fair value, Glenn Novarro, an analyst at RBC Capital Markets says.&nbsp; <\/p>\n<p>&quot;We project that JNJ will deliver mid-to high-single-digit EPS growth over the next three years,&quot; the analyst told clients in a note Tuesday. <\/p>\n<p>&quot;While this is below the growth rates that JNJ delivered earlier in the past decade, we believe that investors should take comfort in JNJ&#39;s ability to cut costs and deliver<br \/>consensus expectations. <\/p>\n<p>Trading at roughly 12x forward estimates, Mr. Novarro believes that the stock is already discounting the slower growth estimates and reiterated his 12-month price target of $65. &nbsp;<\/p>\n<p>On Tuesday, JNJ reported better than expected earnings and revenues for its first quarter, but also cut its earnings guidance to reflect a higher U.S. dollar and healthcare reform. <\/p>\n<p><a href=\"mailto:dpett@nationalpost.com%20\">David Pett <\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/network.nationalpost.com\/NP\/aggbug.aspx?PostID=426269\" width=\"1\" height=\"1\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Johnson &amp; Johnson&#39;s slower growth future has already been discounted by investors, leaving shares pretty close to fair value, Glenn Novarro, an analyst at RBC Capital Markets says.&nbsp; &quot;We project that JNJ will deliver mid-to high-single-digit EPS growth over the next three years,&quot; the analyst told clients in a note Tuesday. &quot;While this is below [&hellip;]<\/p>\n","protected":false},"author":2571,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-721169","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-31BL","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/721169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/2571"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=721169"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/721169\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=721169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=721169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=721169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}