Wells Fargo Starts Mead Johnson Nutrition (MJN) at Outperform

Wells Fargo initiates coverage on Mead Johnson Nutrition (NYSE: MJN) with a Outperform rating and a price target of $81.00 to $83.

Analyst said Mead Johnson offers investors significant exposure to the developing markets of Asia and Latin America through fast-growth and high-margin infant and children's nutrition.

"The category is poised to benefit from rising per-capita GDP and middle-class expansion, while Mead-specific initiatives augment the growth potential (innovation, M&A, and distribution)," said analyst John Baumgartner.

"We forecast five-year peer-leading compound annual growth rates (CAGR) of 10% for sales and 13% for EPS, while strong cash generation and growing returns to shareholders reinforce MJN's attractiveness," added Baumgartner.


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 $72.96 yesterday.

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