Analyst not buying weak J&J guidance

|By:, SA News Editor

Lower today amid a disappointing full year outlook, Johnson & Johnson (JNJ -1.7%) is a buy on the dip says RBC's Glen Novarro. The weak early-year guidance sets management up to beat and raise throughout 2014. "We continue to recommend [J&J] based on strong growth in pharmaceuticals and under-appreciated operating margins."

Earlier: Management guides to full-year EPS of $5.75-$5.85 vs. consensus $5.86.