Celsius Holdings price target lowered to $80 from $87 at BofA

BofA lowered the firm’s price target on Celsius Holdings (CELH) to $80 from $87 and keeps a Neutral rating on the shares. Celsius started 2024 with “another wide margin beat and a soft topline,” complicated by moving inventory levels at Pepsi (PEP) and year-ago comps, the analyst tells investors. For the full year, the firm lowers net sales by 5% to $1.71B, but flows through better expected margins and is now modeling adjusted EBITDA that is up 2% from its prior estimate, the analyst noted.