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6/13/2012 8:37:45 AM
J.P. Morgan Securities upgraded Johnson & Johnson for the first time in nearly four years, saying the U.S. drugmaker has survived a series of generic versions of its drugs hitting the market and will benefit from recent drug launches. "The good news is that fundamentals are on the upswing at J&J," analyst Michael Weinstein said, upgrading the stock to "overweight" - JP Morgan's top rating. Weinstein, who assigned a "neutral" rating on the stock in October 2008, said J&J is coming off a difficult 2008 to 2011 period, and expects the company to get a boost from its recently launched advanced prostate cancer drug, Zytiga, hepatitis C treatment, Incivo, and HIV drug, Edurant.
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