NEW YORK (TheStreet) -- Shares of Mead Johnson Nutrition Co. (MJN) are declining 0.07% to $91.14 after Credit Suisse lowered its price target to $102 from $110, while maintaining its "outperform" rating.
The firm also lowered 2015 earnings estimates to $3.88 from $3.97 per share, and decreased 2016 earnings estimates to $4.28 per share from $4.41.
"Management indicated in recent presentations that sales trends in mainland China worsened in May and June due to more competitive pricing," Credit Suisse analysts said.
Additionally, recent comments from Nestle SA (NSRGY) and Hershey Co. (HSY) confirm that the shift in consumer buying patterns to e-commerce have dampened shopping patterns in the modern trade, Credit Suisse noted.
Mead Johnson Nutrition is a global pediatric nutrition company that manufactures, distributes and sells infant formulas, children's nutrition and other nutritional products.
Separately, TheStreet Ratings team rates MEAD JOHNSON NUTRITION CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MEAD JOHNSON NUTRITION CO (MJN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins, growth in earnings per share, good cash flow from operations and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."