RBC Capital Raises Price Target on Hain Celestial (HAIN) Following In-Line 3Q

RBC Capital reiterated a Sector Perform rating on Hain Celestial (NASDAQ: HAIN), and raised the price target to $44.00 (from $42.00), following the company's 3Q earnings report. RBC continues to expect increased trade promotion and marketing spending for the remainder of calendar 2016, partially offset by cost savings and productivity as a result of the company's Project Terra initiative.

Analyst David Palmer commented, "Following fiscal 3Q results, we are maintaining our EPS estimates but slightly increasing our revenue estimates and price target. Non-measured channel trends appear slightly better than expected. However, we remain somewhat cautious about near-term sales and profitability given increasing trade spend and mix drag from tea."

For an analyst ratings summary and ratings history on Hain Celestial click here. For more ratings news on Hain Celestial click here.

Shares of Hain Celestial closed at $44.89 yesterday.

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