Celsius Holdings initiated with an Overweight at Piper Sandler

Piper Sandler analyst Michael Lavery initiated coverage of Celsius Holdings (CELH) with an Overweight rating and $110 price target. The firm sees Celsius having "a differentiated brand and product in the energy drink space" and thinks this can help it continue to drive sustainable share gains. Piper also expects the company’s distribution deal with PepsiCo (PEP) to lead to U.S. gains in the near-term and longer-term international gains.