Citigroup Boosts Target, Estimates for Mead Johnson; Asian Demand Strong (MJN)

By Staff,

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Pediatric nutrition specialist Mead Johnson Nutrition Co. ( MJN ) on Friday saw its price target and earnings estimates boosted by analysts at Citigroup.

The firm said it now expects shares of MJN to reach $77, suggesting a 12% upside to the stock's Thursday closing price of $69.

Citigroup also maintained its "Buy" rating an lifted its earnings estimates for the company, citing continued pediatric demand in Asian markets.

Mead Johnson shares were unchanged in premarket trading Friday.

The Bottom Line
Shares of Mead Johnson Nutrition ( MJN ) have a 1.51% dividend yield, based on last night's closing stock price of $69. The stock has technical support in the $62-$64 price area. The shares are trading at all-time highs and have little overhead resistance.

Mead Johnson Nutrition Co. ( MJN ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: MJN

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