Johnson & Johnson (JNJ) has seen a 55% increase in its shares over the past year as investors gain confidence in the company's ability to grow beyond STELARA. Morgan Stanley recently raised its price target on Johnson & Johnson from $267 to $283 and reiterated its Overweight rating. The firm argues that the company is demonstrating its ability to deliver durable earnings growth even as it faces major patent headwinds. The updated outlook suggests that J&J’s broader business is strong enough to continue growing through this transition. The company reported first-quarter revenue of $24.1 billion and adjusted EPS of $2.70, both ahead of expectations, and raised full-year guidance.