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Fly News Breaks for August 29, 2018
HAIN
Aug 29, 2018 | 09:17 EDT
BMO Capital analyst Amit Sharma lowered his price target on Hain Celestial to $29 from $31 and kept his Market Perform rating, citing its weak outlook for Q1 earnings in spite of the management's optimism for revenue acceleration in the back half of 2019. The analyst also believes that the company's FY19 EBITDA guidance is "at risk" because of "increased trade promotion, brand building, and marketing" costs. Sharma intends to maintain a neutral stance until there is more visibility about the company's "strategic action" amid its CEO transition perior.
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