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Johnson & Johnson Bullish
Description
Johnson & Johnson ($JNJ@US) raised its annual adjusted profit forecast on Tuesday. The firm kept its vaccine sales target of $2.5 billion, but it raised its adjusted earnings per share to between $9.77 and $9.82, outpacing previous estimates by more than 10 cents. The company, however, is facing stiff competition from Moderna ($MRNA@US) and Pfizer ($PFE@US) over COVID-19 vaccines. In Baltimore, a Johnson & Johnson vaccine plant has experienced quality issues, making it difficult to improve vaccine sales in 2022. Johnson & Johnson stock fell nearly three-quarters of a percent in early trading.
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