Leerink Partners upgraded Johnson & Johnson (JNJ) to Outperform from Market Perform on May 13, 2026, while raising its price target to $265 from $252.

The financial firm expects the healthcare giant to achieve accelerated revenue growth driven by robust development pipelines, as reported by Detik Finance.

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Key Drivers Behind the Upgrade

Leerink Partners raised its market estimates for specific medical treatments, including Icotyde and Inlexzo.

The investment firm indicated that Johnson & Johnson is well-positioned to strengthen its long-term corporate growth objectives during the upcoming analyst day scheduled for December 8.

According to the firm, the management team could provide further justification for its long-term target of achieving double-digit revenue growth later in the decade.

This development aligns with revised financial figures released by company executives during the first-quarter earnings conference.

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Leerink Partners cited "strong new drug momentum" as a key factor, establishing that this performance is expected to support faster revenue growth and stronger share performance.

Revised Financial Guidance

During the company’s Q1 2026 earnings call, CFO Joseph Wolk said JNJ raised its operational sales growth guidance to a range of 5.9% to 6.9%.

That implies a midpoint of roughly $100.2 billion.

He also said reported sales growth is now expected to range between 6.5% and 7.5%, with a midpoint near $100.8 billion.

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Adjusted EPS projections were also revised upward by $0.02, establishing a new expected target range between $11.30 and $11.50.

The pharmaceutical and medical technology company plans heavier investment spending during the first half of the year.

Management shifted from their original language of "we anticipate" to "we are increasing" when discussing both sales growth and adjusted EPS guidance.

Corporate leadership continues to project an expansion of the adjusted pretax operating margin by a minimum of 50 basis points throughout 2026.

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Johnson & Johnson develops, manufactures, and sells a broad range of healthcare products through its Innovative Medicine and MedTech segments.