Credit Suisse Reiterates Outperform on Mead Johnson Nutrition Following Management Meetings in China
In a report published Thursday, Credit Suisse analyst Robert Moskow reiterated an Outperform rating and $90.00 price target on Mead Johnson Nutrition Co. (NYSE: MJN).
In the report, Credit Suisse noted, “We recently attended meetings in China with Mead management. While the company is still struggling to get its arms around the volatility in the Chinese market, we continue to believe that there is some upside to consensus estimates owing to share gains from the temporary recall of competitors Danone and Abbott. This ‘gift' along with the easy comparisons to last year's missteps will give the stock some cover over the next two quarters while the Chinese market stabilizes.”
Mead Johnson Nutrition Co. closed on Wednesday at $74.25.
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