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Fly News Breaks for October 7, 2015
MJN
Oct 7, 2015 | 06:38 EDT
Nomura upgraded Mead Johnson to Buy with a $93 price target. Analyst Mark Howden expects Mead Johnson to cut guidance at the October 22 investor day/Q3 results due to deteriorating pricing in China but said valuation has better incorporated the realty of lower baby formula prices and China/Hong Kong shares erosion. Howden now views risk/reward as profitable and said it the price could encourage consolidation in the sector.
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