Morgan Stanley lowered the firm’s price target on Celsius Holdings to $68 from $75 and keeps an Equal Weight rating on the shares. Following a company presentation yesterday, the firm is lowering its Q2 revenue estimate from $430M to $388M, which it notes compares to the current $419M Visible Alpha consensus, and also lowering its FY24 and FY25 revenue estimates by 5% and 6%, respectively, given recent weaker than expected energy category growth, the analyst tells investors.
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