BofA starts Celsius with a Neutral as strong sales runway reflected in shares

As previously reported, BofA analyst Jonathan Keypour initiated coverage of Celsius Holdings (CELH) with a Neutral rating and $104 price target. Though he views Celsius as "one of the better-positioned growth stories in consumer staples," his Neutral rating reflects that its strong sales and margin runway, which has been boosted by the recent U.S. distribution pact with Pepsi (PEP), is already reflected in shares that climbed more than 60% last year, Keypour tells investors.