Citi analyst David Driscoll noted that Mead Johnson (MJN) is again being mentioned in the media as a takeover target, with the current report coming from the Betaville blog. Driscoll pointed out that Nestle (NSRGY) and Danone (DANOY) were also reported to be potential suitors for Mead Johnson in October 2014. In a takeout scenario, Mead Johnson could be valued between $100-$131 per share, said Driscoll, citing a discounted cash flow analysis. Danone's infant formula franchise doesn't have much overlap with Mead and such a deal would create few anti-trust hurdles, while Nestle would have substantial overlap in Latin America with Mead, the analyst added. Driscoll has a Buy rating and $85 price target on Mead Johnson shares.

Berenberg analyst James Targett raised the firm's price target on Danone to EUR 63 from EUR 62.50 and keeps a Hold rating on the shares.