Mead Johnson Shares Crushed Amid Downgrades at Wells Fargo, Goldman Sachs

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Shares of Mead Johnson Nutrition (NYSE: MJN) are getting absolutely slammed Wednesday morning following several key downgrades earlier. A little more than an hour into the trading session, Mead Johnson shares are down 8.6 percent to $68.43.Wells Fargo analyst John Baumgartner lowered his investment rating on the stock from Outperform to Market Perform and reduced his 12-month valuation range from $87-89 to $76-78.Baumgartner believes Mead Johnson's China pricing investigation will be "financially manageable" despite the negative sentiment surrounding the inquiry.Baumgartner also pointed at tapering GDP growth in developing markets, resulting in elevated risk potential tied to inflation in dairy costs.Also weighing on Mead Johnson shares Wednesday morning is a downgrade from Buy to Neutral at Goldman Sachs.

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