Stocks

We’re upgrading Johnson and Johnson (JNJ) to BUY because we feel the stock offers reasonable value at its current levels, as well as being buoyed by news of the likely settlement of talcum-powder related claims. In addition, at the current multiples JNJ trades at, we see it as a way to be a “two-for-one” deal, as the company is spinning off its consumer goods division into a new company – Kenvue.