UPDATE: Oppenheimer Initiates Coverage On Hain Celestial As Valuation Gives Reason For Caution

In a report published Thursday, Oppenheimer analyst Rupesh Parikh initiated coverage on

with a Perform rating and $120.00 price target. In the report, Oppenheimer noted, “We are initiating coverage of the Hain Celestial Group Inc. with a Perform rating and $120 price target. A leading packaged food player in the natural/organic space, Hain has a diverse product offering catering to a wide variety of categories from organic baby food to organic bread. HAIN shares have performed quite well with a fifth consecutive year of outperformance vs. the S&P 500. We believe industry-leading organic sales growth, management's expertise in making and integrating acquisitions, and improving sentiment toward the space have contributed to this outperformance. We look quite favorably upon Hain's management team, product portfolio, and M&A expertise, but view shares as fully valued at current levels.” Hain Celestial closed on Wednesday at $112.48.