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Fly News Breaks for February 28, 2017
HAIN
Feb 28, 2017 | 07:31 EDT
Jefferies analyst Akshay Jagdale says that while last night's credit facility extension announcement was expected, Hain Celestial disclosed two incremental positives. The company generated $67M in free cash flow over the last six months while management's commentary "deliberately pointed to being closer to completing the reporting process," Jagdale tells investors in a research note. He now sees lower probability of a "material restatement" and keeps a Buy rating on Hain shares with a $50 price target.
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