Mead Johnson (MJN) Trades Lower; Goldman Cuts Estimates, PT on New Nielsen Data

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Mead Johnson Nutrition (NYSE: MJN) is trading lower Friday morning following a late-Thursday call by Goldman Sachs. The firm maintained its Neutral rating on Mead Johnson, but cut its price target by $1 to $88.

Goldman said recent data from China Nielsen reveals continued market share decline for the company, with overall share now negative year-over-year in the most recent period. Data shows Pfizer's (NYSE: PFE) Wyeth grabbing share following the recent launch of its Biofactors System.

Goldman noted, "While this data only captures 30% of the market, and not the faster growing Mom and Baby stores or online outlets, the trend is consistent with data MJN presented at a recent conference."

On the numbers, Goldman is trimmng EPS expectations: FY12 from $3.23 down to $3.12, FY13 from $3.68 to $3.59, and FY14 from $4.07 down to $3.92.

Shares are down 4.3 percent in morning trading.

For an analyst ratings summary and ratings history on Mead Johnson Nutrition click here. For more ratings news on Mead Johnson Nutrition click here.

Shares of Mead Johnson Nutrition closed at $85.65 yesterday, with a 52 week range of $60.62-$88.72.

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