J&J Reaffirms Fiscal 2010 Guidance

Reuters.com is reporting that Johnson & Johnson announced that for fiscal 2010, it continues to expect earnings of $4.85 to $4.95 per share. According to Reuters Estimates, analysts on an average are expecting the Company to report earnings per share (EPS) of $4.92 for fiscal 2010.
At today's stock price of about $63.80, with a 2010 EPS of $4.92 that results in a forward PE of about 13. That seems like a flat out steal of a valuation for J&J.

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