JMP raises estimates of J&J

Johnson & Johnson Inc. was maintained by JMP Securities analyst Robert C. Faulkner at a market perform rating and earnings per share estimates for 2005, 2006 and 2007 were raised. JMP also raised sales estimates to account for changes in the foreign exchange impact. Earnings per share estimates for 2005 were raised to $3.50 from $3.46, for 2006 to $3.84 from $3.81 and for 2007 to $4.21 from $4.18. For the quarter, JMP said sales below consensus and expectations offset the impact of above-estimated earnings per share. Shares of the New Brunswick, N.J.-based company were up $1.35, or 2.14%, at $64.32 on volume of 13,733,400 shares versus the three-month running average of 7,426,100 shares.

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