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Fly News Breaks for August 3, 2016
MJN
Aug 3, 2016 | 07:16 EDT
CLSA analyst Michael Lavery upgraded Mead Johnson to Outperform and raised its price target to $96 from $89. Lavery is more bullish on Mead's topline outlook for China over the next 12-18 months following a China retailer and consumer survey. Its Enfinitas super-premium brand has very high early awareness which drive part of the lift in 2017 expectations for its China business, Lavery commented. He now expects 5.5-6% organic sales growth in China, versus 1-1.5% previously, with a bias is to more upside and said online discounting also appears to be more moderate.
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