Deutsche Bank Reiterates Buy Rating, $88 PT on Mead Johnson Nutrition
In a report published Wednesday, Deutsche Bank reiterated its Buy rating and $88.00 price target on Mead Johnson Nutrition (NYSE: MJN).
Deutsche Bank noted, “Although the stock has been under pressure given concerns around China growth, we continue to view the LT outlook as compelling. Mead enjoys a modest premium valuation vs. global CPG peers. But we see this as justified given leading global share in a rational category, excellent margins, and investments that should yield high returns.”
Mead Johnson Nutrition closed on Tuesday at $73.59.
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