UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on The Hain Celestial Group Following Solid F4Q13 Report

In a report published Thursday, BMO Capital Markets analyst Amit Sharma reiterated an Outperform rating on

, and raised the price target from $72.00 to $82.00. In the report, BMO Capital Markets noted, “HAIN's solid quarter and sales/earnings guidance unmistakably signals that solidifying consumer preference for healthier natural/organic products is starting to manifest in structurally stronger sales and operating profit growth. First, sales growth appears to be accelerating in the nontraditional channels (e.g., WFM) as Hain benefits from higher store count and increasing velocity, while high-single-digit growth appears sustainable in the groceries and mass channels, driven by distribution gains, higher SKU count, and increasing adoption by the mainstream consumers. Second, large distribution gains and cost synergies for the recently acquired BluePrint and Ella's reinforce our view that acquiring and integrating small businesses is one of HAIN's core competencies, not an attempt to ‘hide decelerating organic growth.' Third, the expected margin enhancement in the UK appears to be ahead of schedule as improving operating leverage, a favorable sales mix, and stronger sales growth likely will lead to double-digit margins in the next 12 months.” The Hain Celestial Group closed on Wednesday at $72.90.