UPDATE: Piper Sandler Upgrades Hain Celestial (HAIN) to Overweight
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Piper Sandler analyst Michael Lavery upgraded Hain Celestial (NASDAQ: HAIN) from Neutral to Overweight with a price target of $50.00, (from $42.00.).
The analyst comments "We missed the run in HAIN shares over the past year, but we are upgrading to OW now, as we believe some key growth drivers still have a long runway (e.g. innovation, distribution gains, productivity). We see multiple levers for sustained margin growth that can drive longer-term margins above expectations. Hain has also identified ~$150M of further cost savings, focusing on productivity and manufacturing footprint optimization, that can help margins. We raise our F22E EPS from $1.55 to $1.85 and raise our PT from $42 to $50."
Shares of Hain Celestial closed at $42.34 yesterday.
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