Hain Celestial (HAIN) Has More Upside, Piper Jaffray Says; PT Raised to $104

Piper Jaffray analyst Sean Naughton reiterated an Overweight rating and boosted his price target on Hain Celestial (NASDAQ: HAIN) to $104.00 (from $102.00), saying channel agnostic growth is appealing while the Wal-Mart (NYSE: WMT) impact appears minimal.

Naughton said, "While Hain shares have rallied in the last couple of days, we continue to believe more upside lies ahead as the company expands into new channels of distribution, focuses on productivity, and delivers on its long term targets of mid to high single digit organic growth."

He added, "In addition, we have included further analysis on the potential Wild Oats impact at Walmart, UNFI inventory reduction, and valuation based on a conservative DCF model. Bottom line, we believe the trends in natural and organic food remain strong and HAIN is a good channel agnostic way to play the proliferation of this secular trend."

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 $90.47 yesterday.

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