Concerns about Hain Celestial may create buying opportunity, says BMO Capital After Hain reported in-line Q2 EPS but raised its FY14 EPS guidance, BMO Capital believes that concerns about a deceleration in the company's U.S. growth are misplaced. The firm contends that the company is poised to exceed sales/earnings expectations in the near term, and it keeps an Outperform rating on the stock.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: BreitBurn Energy (BBEP) downgraded to Hold from Buy at Wunderlich... CIBC (CM) downgraded to Underperform from Neutral at Credit Suisse... Costco (COST) downgraded to Neutral from Buy at Janney Capital... Discovery (DISCA) downgraded to Sector Perform from Outperform at RBC Capital... Emerald Oil (EOX) downgraded to Neutral from Accumulate at Global Hunter... Goodrich Petroleum (GDP) cut to Underweight on lower oil at JPMorgan... Hain Celestial (HAIN) downgraded to Sector Perform from Outperform at RBC Capital... Hovnanian (HOV) downgraded to Neutral from Buy at Compass Point... Mindray Medical (MR) downgraded to Underweight from Equal Weight at Morgan Stanley... Morgan Stanley (MS) downgraded to Neutral from Buy at Buckingham... Oracle (ORCL) resumed with a Neutral from Overweight at Piper Jaffray... Rackspace (RAX) downgraded to Underperform from Neutral at DA Davidson... Zayo Group (ZAYO) downgraded to Neutral from Buy at BTIG.
Hain Celestial price target raised to $129 from $117 at JPMorgan JPMorgan raised its price target for Hain Celestial shares to $129 after meeting with management and keeps an Overweight rating on the name. The firm believes Hain continues to experience strong shipment and takeaway trends.