Fly News Breaks for August 20, 2019
HAIN
Aug 20, 2019 | 07:28 EDT
JPMorgan analyst Ken Goldman downgraded Hain Celestial downgraded to Underweight from Neutral and lowered his price target to $18 from $23, citing Brexit and currency risk, organic sales risk, the potential for divestitures to raise less cash than expected and valuation. Goldman tells investors in a research note that he is not negative on Hain's strategy, but feels that a number of near-term headwinds may not properly be reflected in the stock price. Additionally, Goldman says he can no longer recommend paying a premium for a company likely to sport margins and returns well below average for a long time.
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