Piper Jaffray Raises PT on Hain Celestial to $29 (HAIN)

Piper Jaffray is out with its report today on Hain Celestial

, raising its price target from $22.50 to $29. In a note to clients, Piper Jaffray writes, "Hain Celestial reported December quarter revenues of $292M, up 21% Y/Y; consensus was $274M. Non-GAAP EPS of $0.39 compared to the consensus of $0.37. GAAP EPS were $0.37 for the quarter. Rising input costs remain a material headwind, but management is committed to efficiencies and price increases to maintain margins. Following a significant run in the stock, valuation leads us to a neutral thesis. We have increased our PT from $22.50 to $29 (20x FY12 EPS)." At the time of posting, shares of HAIN were trading at $27.54, down 0.40% from Thursday's close.