USB Piper Lowers Hain Celestial to 'Neutral'

Analyst Steve Denault says the organic-food maker can't offer any insight about future earnings results

USB Piper downgraded Hain Celestial (HAIN ) to neutral from buy.

Analyst Steve Denault says the downgrade was based on limited visibility and the expectation Hain would miss numbers for a second consecutive time. He questions the company's internal forecasting ability, saying it simply isn't what it should be. Denault says he'll sit on the sidelines for a couple quarters to see if the company can outperform the market. He cut the $0.20 Q4 EPS estimate to $0.07, and cut the $1.10 fiscal 2002 (June) estimat to $1.00.

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