BofA, J&J, Coke Earnings on Tap
Investors await clutch of key earnings.
Health-care major Johnson & Johnson (JNJ) reports its latest earnings Tuesday before the bell. Wall Street consensus estimates forecast that the firm will post earnings of $1.21 per share, compared with $1.23 a year ago.
J&J has beaten analyst estimates in three of the last four quarters. Morningstar analyst Damien Conover upped his fair value estimate for the stock from $75 per share to $77 in mid-July, citing the improved outlook for the pharmaceutical division. "Gaining four key approvals in 2011 already, J&J has improved its growth outlook for the drug division," Conover wrote.
Nazim Khan does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.