Long‑term DCF models value JNJ slightly above its current market price, reflecting intrinsic strength and supporting the thesis for gradual appreciation over the next 18–24 months. Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements. However, the average JNJ price target of $183.13 suggests a 3% downside risk. Dividend‑focused investors favor JNJ for its 60+ years of payout growth. Analysts maintain a stable JNJ stock forecast with an emphasis on predictable shareholder returns.