Hain Celestial (HAIN): Why The 25% Overnight Drop Is A Buying Opportunity - Jefferies
- Wall Street flat as Microsoft rallies
- Unusual 11 Mid-Day Movers 10/21: (ALKS) (CXRX) (CERC) Higher; (SGY) (MBRX) (STS) Lower
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies analyst, Akshay Jagdale, reiterated his Buy rating on shares of Hain Celestial (NASDAQ: HAIN) and cut his price target to $50.00 (from $57.00) after the company announced an audit committee review of concessions granted to distributors in the US. Separately, the company said it does not expect to achieve its FY16 guidance.
The analyst stated that he "can’t reasonably estimate the magnitude/timing of this event. However, we view the stock weakness (- 25% pre-mkt) as a potential buying opportunity; we see value in the company’s brands, category exposure & cash flow. Worst case, probability of a buyout is now higher".
Shares of Hain Celestial closed at $53.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!