Hain Celestial price target lowered to $10 from $15 at Maxim

Maxim lowered the firm’s price target on Hain Celestial (HAIN) to $10 from $15 but keeps a Buy rating on the shares. The firm cites the company’s below-consensus Q2 revenue and wider than expected loss per share, though the management also noted strong initial Q3 sales trends for several Earth’s Best product categories, including snacks and cereal, the analyst tells investors in a research note. Maxim adds that Hain’s discount is not justified due to the high-growth characteristics of the natural and organic channels and the potential for the company’s strong core brands to outperform the category in the second half of the year.