Bernstein downgraded Hain Celestial (HAIN) to Market Perform from Outperform with a price target of $1.50, down from $8. The firm cites the “abrupt” CEO transition, announcement of a strategic review of the portfolio, “disappointing” results and guide-down, and adjustment to the company’s credit agreement suggest that it will be some time before the Hain is on a “firmer footing” for the downgrade. The analyst sees an ongoing low-teen level decline in snacks.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HAIN:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue