Roth MKM analyst Sean McGowan lowered the firm’s price target on Celsius Holdings to $70 from $73 and keeps a Buy rating on the shares. Celsius’ Q3 revenue, gross margin, and adjusted EBITDA far exceeded the firm’s estimates, and the brand continues to outperform the energy drink market, the analyst tells investors in a research note. The firm expects strong domestic growth to continue, and that expansion into international markets beginning in 2024 will sustain high growth.
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