CIBC World Markets Downgrades JNJ

Analyst Mara Goldstein says the FDA approval of the Cypher stent confirms the company's EPS picture is bright, but the shares already reflect this

Johnson & Johnson (JNJ ) shares fell Wednesday even though the Food and Drug Administration said it supported approval for the Cypher drug-coated coronary stent made by JNJ's Cordis unit. CIBC World Markets downgraded JNJ shares to sector perform from sector outperform.

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