Hain Celestial initiated with a Neutral at DA Davidson

DA Davidson analyst Brian Holland initiated coverage of Hain Celestial with a Neutral rating and $10 price target. The analyst says the company’s portfolio is “too complex for its size.” This creates considerable challenges implementing a cohesive growth strategy, as evidenced by Hain’s multiple failed attempts at generating sustained organic growth over the past decade, the analyst tells investors in a research note. The firm thinks a wait and see approach is prudent.