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Fly News Breaks for August 17, 2016
MJN
Aug 17, 2016 | 08:45 EDT
Morgan Stanley analyst Matthew Grainger tempered his expectations on Mead Johnson given a more cautious outlook for China Infant formula. The analyst expects pricing pressures, continued channel shifts towards lower-priced online sales, ongoing capacity increases, and new formula regulatory constraints to pressure shares and sees only 3-4% growth going forward. The analyst has an Equal Weight rating on Mead Johnson shares and lowered his price target to $87 from $92.
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