Hain Celestial (HAIN): Cutting PT and Reiterating Sell - UBS
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UBS analyst, Steven Strycula, reiterated his Sell rating on Hain Celestial (NASDAQ: HAIN) and cut his price target to $33 after the analyst's new base case assumes no immediate audit clarity and values Hain using trailing 12m FCF/share ($1.65) in place of adjusted EPS ($1.97).
The analyst believes Hain's ongoing audit review is an unknowable outcome and incremental investors seem reluctant to step in front of the news. The new price target of $33 is down from $40.
Shares of Hain Celestial closed at $35.38 yesterday.
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