Jefferies lowered the firm’s price target on Reckitt Benckiser to 4,000 GBp from 4,600 GBp and keeps an Underperform rating on the shares. The firm notes Reckitt fell on Friday as a U.S. jury award $60M against the company. This related to no safety warnings on Enfamil branded premature infant formula, despite claims suppliers knew of a higher risk of NEC, or necrotizing enterocolitis, mortality. The uncertainty now is how many cases and what average award might evolve, Jefferies adds.
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