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Johnson & Johnson Is Ready to Break Out in a Big Way Despite Lackluster Sales Growth

Pharmaceutical player Johnson & Johnson (JNJ) announced earnings this morning before the opening bell for the second-quarter of 2017, and there's a good reason to be bullish on the stock despite incremental sales growth.

The company announced sales of $18.8 billion for the second quarter of 2017, which was an increase of just 1.9% compared to the second quarter of 2016. Obviously, this low sales growth isn't enough to get investors excited, but the silver lining in this earnings report was the guidance forecast for the rest of 2017.

Johnson & Johnson raised its 2017 profit forecast to a range of $7.12 to $7.22 per share, from $7.00 to $7.15 per share. The company also raised its full-year 2017 sales guidance from $75.8 billion to $76.1 billion. Another silver lining can...


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