Celsius Holdings price target lowered to $83.33 from $250 at B. Riley

B. Riley analyst Jeff Van Sinderen lowered the firm’s price target on Celsius Holdings (CELH) to $83.33 from $250 and keeps a Buy rating on the shares. The firm expects Celsius to report in line or better Q4 results and expects gross margin expansion from lower package and raw material unit costs, reduced waste and scrap, and improved freight lane efficiency, the analyst tells investors in a research note. B. Riley expects that Q4 was seasonally slower and that there is inherent sell-in uncertainty around PepsiCo (PEP) inventory management.