UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Mead Johnson Nutrition
In a report published Friday, Deutsche Bank reiterated its Buy rating on Mead Johnson Nutrition (NYSE: MJN), and raised its price target from $77.00 to $81.00.
Deutsche Bank noted, “Affirm BUY Opinion - In the face of building pessimism in late 2012 and into 2013, we maintained an optimistic view on Mead. With broad share gains in a typically rational and highly profitable category, the LT outlook remains bright. With an eventual U.S. recovery, non-China EM markets ramping up and good prospects in China/HK along with a reasonable global CPG valuation, we retain our BUY.”
Mead Johnson Nutrition closed on Thursday at $76.00.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.