Johnson & Johnson (NYSE:JNJ) stock, previously labeled a slow-growth “loser” pharmaceutical play, is now hot again. Shares are up 19% since March 23. They rose almost 5% on April 14, after the company delivered a strong first quarter and said it was working on a vaccine for the novel coronavirus.
Overall, Johnson & Johnson’s reputation within the industry is sound. Its balance sheet is sound, its response to the pandemic is also sound. Its focus on public health is very sound. JNJ stock won’t make you rich. It is still a slow-growing, conservative company. But in an uncertain time, with a pandemic raging, it could be your best shelter from the storm. It is unlikely to make your portfolio ill, which in the present environment makes it a buy, especially for income investors.
Source: InvestorPlace
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