S&P Capital IQ Upgrades Hain Celestial Group from SELL to HOLD

October 28 00:00 2011

New York, October 28 (RainbowNewsLine.com) – Analyst Tom Graves of S&P Capital IQ has upgraded the shares of Hain Celestial Group (NASDAQ: HAIN) from SELL to HOLD. The target price has been raised from $30 to $33.

Analyst Tom Graves, in a research report published on October 25, mentions that the company has acquired an UK chilled foods company that would improve its UK business significantly. The acquisition offers opportunities for purchasing and distribution synergies adding some rise in manufacturing utilization, the analyst says. Given the expected EPS accretion, the analyst expects the company’s FY2012 EPS to be $1.68. The analyst expects Hain Celestial Group’s growth to be above average going forward.