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Fly News Breaks for December 17, 2018
HAIN
Dec 17, 2018 | 08:21 EDT
BMO Capital analyst Amit Sharma said a recent sell-side lunch meeting with Hain Celestial's newly appointed CEO provided a "large serving" of what the problems are but not enough on either the potential solutions or how long a turnaround could take. Meanwhile, management hinted current FY19 EBITDA guidance, and even the current consensus estimate, "may be too high," according to Sharma, who lowered his price target on Hain shares to $23 from $25 ahead of the company's investor day. Sharma keeps a Market Perform rating on Hain.
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