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Fly News Breaks for May 31, 2017
HAIN
May 31, 2017 | 05:45 EDT
"Missing another deadline is not good news," Jefferies analyst Akshay Jagdale tells investors in a research note after Hain Celestial announced another credit facility extension and waiver. Three weeks after saying it "anticipates being in a position" to be current on its reporting by the end May, Hain last night announced it now "intends" to be current by June 15, Jagdale writes. He believes, though, that another two weeks after not reporting for a year "is not the end of the world." The analyst also finds Hain's cash position announced last night as encouraging. Jagdale keeps a Buy rating on the shares with a $50 price target.
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