Johnson & Johnson's (JNJ -1.6%) slips today on a downgrade to Neutral at JPMorgan, saying the stock has reached a "trading premium." Last June, JP notes, the stock was trading at a 5% discount to the "sum-of-its-parts." Now, after a 30% run, the shares trade at an 8% premium, and despite an improvement in the fundamentals, the stock is poised to plateau, at least over the near term. The firm did however, ratchet-up its price target to $83 from $77.
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