ZURICH (Feb 26): Danone lowered its 2020 sales growth target as the coronavirus outbreak weighs on sales of bottled water and infant formula in China, where the French company gets a tenth of its revenue.

Sales will climb 2% to 4% on a like-for-like basis this year, with a recurring operating margin exceeding 15%. The company had previously targeted 4% to 5% sales growth, and a margin of at least 16%.