Mead Johnson’s Price Target Raised at Goldman Sachs (MJN)

in Gold Gold Investment by admin — March 12, 2010 7:09 am | no comments

Pediatric nutrition company Mead Johnson Nutrition ( MJN ) on Friday saw its price target raised by analysts at Goldman Sachs. The analyst boosted its price target on MJN to $57 from $52, noting the growing possibility (which it pegged as a “one-third” chance) of an acquisition by a larger entity. It sees a “deep pool” of strategic interest in the company, which was spun off from Bristol-Myers ( BMY ) back in December. Goldman reiterated its “Buy” rating on the stock. Mead Johnson shares were mostly flat in premarket trading Friday. The Bottom Line We have been recommending shares of MJN since Aug.25, when the stock was trading at $39.81. The company has a 1.55% dividend yield, based on last night’s closing stock price of $51.71. Mead Johnson Nutrition ( MJN ) is a “recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 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 .