Johnson & Johnson (NYSE:JNJ) is a stock I’ve recently come around to liking. In the past, I’ve thought the valuation to be a bit much and the hype over the dividend to be, well, hype. However, of late, I’ve found some earnings growth I didn’t think was there before and the cheaper valuation doesn’t hurt either. But there’s another, as yet mentioned reason I’m bullish on JNJ and that is the dollar. As I shall demonstrate below, the weakened dollar has the potential to meaningfully improve JNJ’s results not only in 2017 but also beyond.
We’ll begin with a chart of the dollar - as represented by UUP - and in short, it isn’t pretty.
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