Gruntal Keeps 'Outperform' on Johnson & Johnson
Gruntal reiterates its near-term and long-term outperform rating on Johnson & Johnson (JNJ ).
Analyst Jeffrey Kraws says the event-free survival rate of Cordis Sirolimus-eluting Stent is significantly superior to the 73% rate for patients treated with J&J's own conventional Bx Stent in the control arm of the study. He says on-going clinical trials include a U.S. multicenter study scheduled to begin later this year. He thinks the results of these trials could ultimately provide further upside to J&J's Cordis unit. Kraws maintains his $63 near-term target and $71 long-term target.
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