Hain Celestial price target lowered to $11 from $12 at Mizuho

Mizuho analyst John Baumgartner lowered the firm’s price target on Hain Celestial to $11 from $12 and keeps a Neutral rating on the shares. Post the investor day, the analyst is more confident that the company’s EBITDA has bottomed. The firm believes Hain’s revenue algorithm “appears achievable as new distribution limits downside risk.” However, Hain’s history of distribution over-reach likely renders investors more inclined to bid shares based on velocity growth, and EBITDA upside is likely limited through fiscal 2025, the analyst tells investors in a research note.