André, RosárioMachado, Bernardo Baptista Romão2022-10-122022-10-122022-01-132021-12-15http://hdl.handle.net/10362/144632This work “Equity Research: Valuation of Johnson & Johnson” has a focal point of analyzing JNJ position on the pharmaceutical industry. Firstly, having in mind its past performance and the company and industry trends and characteristics the Forecast of the Financial Statementswillbemade.Havingthoseinputs,onecanreachafairvaluationofthecompany.Ourvaluationfor Johson & Johson yields a price per share of $188 for 2022, which results in a TotalShareholedrreturnof15%,andthus, a buy recommendation.engValuationGrowthEquity researchWaccJnjSpin-offmaster thesis203062833