By Market News Video Staff, Wednesday, October 20, 11:41 AM ET
This morning, Morgan Stanley raised its EPS estimates on shares of Johnson & Johnson (NYSE:JNJ) through 2012 as the company continues to perform well in a difficult environment. Morgan Stanley did note that organic growth to sales has been weak as of late, but is confident that Johnson & Johnson will be able to overcome these issues. With the positive report, Morgan Stanley reiterated its equal weight rating on shares of JNJ.
Johnson & Johnson shares have climbed steadily with the markets over the past few months. Since July 1st, the stock is up more than 8% and has helped push shares of the Pharmaceutical HOLDRS ETF (PPH) higher as well. Johnson & Johnson accounts for almost 25% of this ETF, with Pfizer (NYSE:PFE), Merck (NYSE:MRK) and Abbott Laboratories (NYSE:ABT) rounding out the top four holdings.
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