Credit Suisse Downgrades Mead Johnson to “Neutral”; Lower Expected Sales Growth (MJN)
On Wednesday analysts at Credit Suisse downgraded Mead Johnson Nutrition Company (MJN) as the firm sees low sales growth for the children’s nutrition company going forward.
The analysts downgraded MJN from “Outperform” to “Neutral” while also cutting earning estimates. Credit Suisse sees shares reaching $76, which suggests a +10% upside to Tuesday’s closing price of $69.24.
Mead Johnson shares were flat during premarket trading on Wednesday. The stock is down -3.5% over the past year.
The Bottom Line
Shares of Mead Johnson (MJN) have a 1.73% dividend yield, based on last night’s closing stock price of $69.24. The stock has technical support in the $65 price area. If the shares can firm up, we see overhead resistance around the $73-$75 price levels.
Mead Johnson Nutrition Company (MJN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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