Piper Jaffray Maintains Neutral, $34 PT on Hain Celestial Group

Piper Jaffray reiterates its Neutral rating and $34 price target on Hain Celestial Group, Inc. (NASDAQ: HAIN) on valuation, as secular growth is diversified by the company's recent acquisition.

Piper Jaffray concludes. “The recently announced acquisition of the Daniels Group launches Hain further into the international natural/organic market with 6% of revenues coming from Canada, 31% from Europe and the balance from the U.S. Once fully operational, the pro forma company will have a more geographically diverse revenue stream. Importantly, we note that we expect the acquisition to add ~18% top-line growth in FY12.”

HAIN closed at $36.50 per share on Tuesday, up 3.17 percent.