Earlier this week, Fed Chair Jerome Powell cautioned that interest rates would likely rise higher than the central bank policymakers expected. As renewed recession fears will keep the stock market under pressure, investors looking for a safe stock may consider Johnson & Johnson (JNJ). In this piece, I have discussed several reasons that make JNJ a safe play.
For fiscal 2022, JNJ reported a 1.3% year-over-year rise in sales and a 3.2% year-over-year increase in adjusted earnings to $27 billion. In addition, its adjusted EPS came in at $10.15, representing an increase of 3.6% over the prior-year period.
