Johnson & Johnson (JNJ) is positioned for accelerating growth, supported by a strong pharma pipeline, UBS Securities said in a note Wednesday.

Analysts said they have identified seven major franchises, each with more than $5 billion in potential revenue, creating a $30 billion to over $40 billion pipeline opportunity across immunology and oncology that could support growth well into the next decade.

The company is expected to post revenue and earnings per share above consensus through 2030 to 2032, as growth accelerates from its historical 4% to 6% compound annual growth rate to 8% plus CAGR for the rest of the decade driven by a more diversified portfolio of blockbuster medicines, according to the note.

The firm said it views Johnson & Johnson as "one of the cleanest stories in large-cap pharma," with no major loss of exclusivity issues in the near term.

UBS Securities assumed coverage of Johnson & Johnson with a buy rating and a $320 price target.

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