Roth MKM analyst Sean McGowan lowered the firm’s price target on Celsius Holdings to $110 from $120 but keeps a Buy rating on the shares. The company’s Q4 results missed expectations, reflecting pull-forward of some sales from Q4 into Q3, which was up 98% relative to last year, the analyst tells investors in a research note. The firm also noted that sales and marketing expense was higher than expected, though it does not expect results to be impacted by these headwinds going forward, forecasting 2023 sales growth of over 55% and margins to continue strengthening.
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Published first on TheFly
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