Deutsche Bank Defends Mead Johnson (MJN) Following Wal-Mart (WMT) Product Recall
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Price: $89.98 --0%
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank maintains a 'Buy' on Mead Johnson Nutrition (NYSE: MJN) price target of $79.00.
Deutsche analyst says, "After an infant's death in the U.S. (Missouri), Walmart (NYSE: WMT) recently initiated a limited recall of Mead's Enfamil product (12.5 oz can of Newborn powder). It is important to note the FDA, at this point, has not ordered a recall but rather this is a retailer decision."
"Although it is premature to assume a material impact to Mead, we note the total U.S. market accounts for about 30% of est. sales and 25% of consolidated profits (pre-corp expense)...Assuming the issue remains limited to the one death and govt authorities find no problem with Mead's product, we retain our BUY opinion on Mead's stock and would use any weakness as an opportunity to add to or establish a position."
Shares of Mead Johnson are down more than 8 percent this morning.
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 $76.48 yesterday.
Deutsche analyst says, "After an infant's death in the U.S. (Missouri), Walmart (NYSE: WMT) recently initiated a limited recall of Mead's Enfamil product (12.5 oz can of Newborn powder). It is important to note the FDA, at this point, has not ordered a recall but rather this is a retailer decision."
"Although it is premature to assume a material impact to Mead, we note the total U.S. market accounts for about 30% of est. sales and 25% of consolidated profits (pre-corp expense)...Assuming the issue remains limited to the one death and govt authorities find no problem with Mead's product, we retain our BUY opinion on Mead's stock and would use any weakness as an opportunity to add to or establish a position."
Shares of Mead Johnson are down more than 8 percent this morning.
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 $76.48 yesterday.
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