UPDATE: Mizuho Securities Starts Hain Celestial (HAIN) at Buy
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Mizuho Securities analyst John Baumgartner initiates coverage on Hain Celestial (NASDAQ: HAIN) with a Buy rating and a price target of $47.00.
The analyst comments "We initiate coverage of The Hain Celestial Group, Inc. (HAIN) with a Buy rating and $47 price target. Hain is a pure-play in the natural and organic (N&O) foods industry that we expect to grow annual sales at +6% through 2025. Improved execution has transitioned Hain from an acquisition-driven holding company into an integrated business. We expect innovation and distribution to drive a FY22E-FY25E organic revenue CAGR of +5.8% (vs. Street's +5%) and $200MM of productivity savings for an EBITDA CAGR of +10%. We see upside potential to NTM EBITDA; trading at 21x our CY22E EPS (30% discount vs. Staples growth peers vs. five-year average discount of 10%), we see positive risk/reward."
Shares of Hain Celestial closed at $36.15 yesterday.
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