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Fly News Breaks for October 20, 2015
MJN
Oct 20, 2015 | 07:08 EDT
Noting that Mead Johnson's stock has dropped 25% this year, Wells Fargo thinks the decline discounts a structural change in the company's business that has not occurred. Wells says that the company has increased its promotions in China, but that its volume outlook there may be the highest in over a decade, given the 1M+ Chinese couples who applied to have a second child, according to the firm. The firm thinks that the company's discounting in China will be limited, while its U.S. business remains solid. Wells keeps an Outperform rating.
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