Hain Celestial price target lowered to $13 from $16 at Stifel

Stifel analyst Matthew Smith lowered the firm’s price target on Hain Celestial to $13 from $16 and keeps a Hold rating on the shares after the company reported its Q4 earnings with sales and provided its initial FY24 outlook. The firm, which expects management to outline a new growth algorithm at the upcoming investor day scheduled for September 13, contends that shares are now valued at a level that “balances the portfolio’s growth potential against a weaker EBITDA outlook in FY24 and the potential for continued reinvestment needs.”