Goldman Maintains CL-Buy on Mead Johnson Nutrition (MJN)

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Goldman Sachs today maintained a Conviction Buy rating on Mead Johnson Nutrition (NYSE: MJN) with a price target of $93.00. This morning the company made a presentation at the CAGE conference.

"The rapid rise of dairy costs has been a surprise, but we largely see this as noise. MJN has pricing power, particularly in the context of this being an industry-wide issue, and already there are news reports out of Asia referencing broad-based price hikes for formula manufacturers," said analyst Jason English. "The top line is the key focus area for MJN investors and pricing will accelerate sales growth. Overshadowing the dairy cost outlook is the uncertainty over Mead's China/HK business."

For an analyst ratings summary and ratings history on Mead Johnson Nutrition (NYSE: MJN) click here. For more ratings news on Mead Johnson Nutrition click here.

Shares of Mead Johnson Nutrition closed at $73.49 yesterday, with a 52 week range of $61.27-$88.72.

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