Piper Sandler analyst Michael Lavery lowered the firm’s price target on Celsius Holdings (CELH) to $47 from $50 and keeps an Overweight rating on the shares. The firm updated its model to allow for an incremental headwind from promotional discounting that still applies to the sales at retail as PepsiCo (PEP) draws inventories down. Piper also tempers its outlook for future quarters as U.S. measured retail trends slow right down.
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