* Q3 adj EPS $0.57 in line with analyst estimates
* Sales jump 16 pct to $810.2 mln, blow past expectations
* Raises 2010 forecast (Adds analysts' estimates, 2010 outlook, changes headline)
NEW YORK, Oct 28 (Reuters) - Mead Johnson Nutrition Co raised its 2010 profit forecast on Thursday after its third-quarter sales were much stronger than expected.
The maker of Enfamil baby formula now expects 2010 earnings of $2.38 to $2.42 per share, excluding items, up from a prior forecast of $2.35 to $2.40 per share. The company forecast full-year sales growth of 8.5 percent to 9.5 percent, which it said is higher than previously expected.
Net income rose to $106.1 million, or 52 cents per share, in the third quarter, from $97.6 million, or 48 cents per share, a year earlier.
Excluding items, earnings were 57 cents per share, in line with the average analyst estimate, according to Thomson Reuters I/B/E/S.
Net sales jumped nearly 16 percent to $810.2 million, well ahead of analysts' estimates for revenue of $775.5 million.
The company said earnings also benefited from lower interest expenses, which helped to offset higher commodity and manufacturing costs, increased investments, a higher tax rate and costs incurred as a stand-alone company.
Mead Johnson, which was formerly part of Bristol-Myers Squibb Co, went public in February 2009.
It has been cited recently by analysts as a likely takeover target, due to its growth prospects and renewed merger activity in the consumer products sector. (Reporting by Martinne Geller; Editing by Gerald E. McCormick)