UPDATE: Oppenheimer Upgrades Mead Johnson Nutrition on China Child Policy Tailwind to Infant Formula Industry

In a report published Tuesday, Oppenheimer analyst Ingrid Yin upgraded the rating on Mead Johnson Nutrition Co. (NYSE: MJN) from Perform to Outperform, and named a $100.00 price target.

In the report, Oppenheimer noted, “Recently China announced further loosening of the ‘One-Child Policy,' allowing people to have two babies when one of the couple is an only child. Previous rule requires both to be an only child. This is an important and necessary step as the imbalance of demographics is causing societal issues. In our view, the rule could loosen even more in future years. We believe MJN, as a premium children's nutrition provider, is well positioned to benefit from this trend. We increase our FY14/15E EPS from $3.66/4.08 to $4.00/4.67. Upgrade from Perform to Outperform with PT of $100.”

Mead Johnson Nutrition Co. closed on Monday at $82.69.