UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Hain Celestial

In a report published Friday, Jefferies & Company reiterated its Buy rating on Hain Celestial HAIN, but lowered its price target from $80.00 to $75.00. Jefferies noted, “We are updating our estimates for HAIN to include a quarterly forecast for FY13. Our annual EPS estimates for FY13 and FY14 remain unchanged at $2.40 and $2.85, respectively. We believe FY13 will be another strong year, slightly weighted to the second, third and fourth quarters, given the acquisition of certain Premier Foods plc grocery brands and some normal seasonality.” Hain Celestial closed on Thursday at $58.23.