Here are the biggest calls on Wall Street on Wednesday
Cantor initiated the stock as outperform and said it sees shares of the company moving higher following "diminished" risks from talc and opioid litigation.'s Pharma business and multiple expansion, from 15x to 17x, forward P/E, driven by diminishing headlines risks from talc and opioids, should move shares higher. JNJ has reported eight consecutive years of pharma operational sales growth at a CAGR of 8.9%, about twice as fast as the global market.
We also think liabilities from talc and opioids are manageable with JNJ's cash balance, as well as its cash flow from operations."Bank of America upgraded the cannabis company following a pullback in shares and a more "reasonable" valuation among other things.shares arguing Street estimates for Canopy were far too high given a temporary slowdown in provinces ordering cannabis .
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