Johnson & Johnson Up 2%

Johnson & Johnson is up more than 2% after Barron’s said over the weekend the shares could rally about 20% to the mid-$130s as operating improvements spur earnings growth.

Although healthcare stocks have been decline since president-elect Donald Trump said he would take down drug prices, Barron’s said J&J is less susceptible to changes in pricing than its peers and the company could actually prosper from Trump’s plans to lower corporate taxes.

The company is also making substantial improvements in its consumer and medical devices businesses, according to Barron’s. Reduced concern about competition for the company’s blockbuster Remicade arthritis drug could also help bolster the stock, the report said.

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