Roth MKM analyst Sean McGowan says Celsius Holdings continues to strengthen in multiple retail channels, as evidenced by NielsenIQ data — reported by BevNET — and the firm’s observations of significant shelf space expansion. The firm believes this suggests Celsius has the potential to show a significant upside revenue surprise and market share strength for Q2 well above what is suggested in its estimates and consensus. In addition, gross and operating margins are poised to continue showing improvement resulting from the benefits of the Pepsi partnership and Celsius’ own marketing efforts, Roth adds. The firm has a Buy rating and a price target of $160 on the shares.
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