Hain Celestial price target lowered to $18 from $24 at Loop Capital
Loop Capital analyst Andrew Wolf lowered his price target on Hain Celestial to $18 and kept his Hold rating following its recent event to introduce the new CEO, Mark Schiller. The analyst notes that Schiller brings an "impressive" track record of a turnaround in food companies through a bottom up approach that "builds value across the brand portfolio". However, Wolf adds that the event's discussion also illuminated the extend of the "unknown at Hain", especially in identifying which brands will be the value creators for the enterprise. While Wolf has a positive impression regarding the fit of the new CEO for the needs of the company, he remains concerned about its lack of visibility.