UPDATE 1-Hain Celestial rises after Icahn reports 11.9 pct stake

* Carl Icahn holds about 4.9 mln shares

* Shares rise 7 pct to year-high
(Adds analyst comments)

May 14 (BestGrowthStock) – Shares of Hain Celestial Group Inc
(HAIN.O: ) rose as much as 7 percent Friday, a day after activist
investor Carl Icahn reported an 11.9 percent stake in the
organic food and personal care products company.

In a filing with the U.S. Securities and Exchange
Commission, Icahn and entities controlled by him reported that
they hold about 4.9 million shares.

Hain remains undervalued and has unrecognized brand value,
Jefferies and Co analyst Scott Mushkin said in a note to
clients.

“Hain sits atop some very valuable assets in our opinion,
including, but not limited to, the Earth’s Best, Garden of
Eatin’ and Imagine brands,” the analyst said.

The value of the equity does not represent the opportunity
for improved margins and sales growth, he said.

“Our sum-of-the-parts analysis for Hain has always
suggested a value at least in the mid-twenties,” the analyst,
who has a “buy” rating on the stock, said.

Hain Celestial shares were trading up 5 percent at $22.24
Friday morning on Nasdaq. They touched a year-high of $22.64
earlier in the session.

Stock Market

(Reporting by Vidya Lakshmi in Bangalore; Editing by Don
Sebastian)

UPDATE 1-Hain Celestial rises after Icahn reports 11.9 pct stake