Hain Celestial price target lowered to $11 from $12 at Piper Sandler

Piper Sandler lowered the firm’s price target on Hain Celestial to $11 from $12 and keeps a Neutral rating on the shares. The firm notes the company had better-than-expected first half of 2024 momentum, and margins were almost 300bps better than we had expected. However, it is taking advantage of its better position to accelerate simplification initiatives and pull forward additional restructuring actions from 2025, reminding Piper that Hain is still in fairly early stages of its turnaround, even if there are promising signs of where it can land by the end.