DA Davidson Reiterates Neutral Rating on Hain Celestial (HAIN)

DA Davidson analyst Brian Holland reiterated a Neutral rating and $1.50 price target on Hain Celestial (NASDAQ: HAIN).

The analyst commented, "HAIN North American Snacks divestiture appears a constructive first step in either reshaping the portfolio or ultimately selling the company entirely. While a few years ago Snacks appeared a valuable asset, category deceleration and HAIN underperformance therein renders these brands less strategic today. To be sure, the company still has a lot of work to do, but for now today's announcement suggests there is indeed optionality for HAIN to explore. We maintain our NEUTRAL rating and $1.50 price target, and will update our model once more details are disclosed when the company reports next Monday."

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 $1.24 yesterday.

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