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Fly News Breaks for June 10, 2015
MJN
Jun 10, 2015 | 11:44 EDT
Following yesterday's conference presentation, JPMorgan lowered its estimates for Mead Johnson to reflect concerns about near-term trends in China. Management called competitive pricing in the region "somewhat irrational," while issues in Hong Kong are likely to hurt sales growth for much of 2015, JPMorgan tells investors in a research note. The firm cut its price target for Mead shares to $99 from $111 but keeps an Overweight rating on the name. The stock dropped 2% to $91.01 in late morning trading.
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