Here's Why Johnson & Johnson Shares Are Poised for a Rally

Shares of Johnson & Johnson (JNJ) - Get Report are poised for a rally as the stock is currently trading about 8% off its 52-week high. The company is set to release fourth-quarter and full-year results on Jan. 24. The company is expected to post a 2.7% rise in 2016 sales after a decline of 5.7% in 2015. J&J is also expecting to file 10 new drug applications over the next two years, with the possibility of billions of dollars in fresh annual sales. Over the past 12 months, the stock is up 18.3%.