Celsius Holdings price target lowered to $85 from $100 at Wedbush

Wedbush analyst Gerald Pascarelli lowered the firm’s price target on Celsius Holdings to $85 from $100 and keeps an Outperform rating on the shares. This was a very noisy and unexpected quarter to start the year for Celsius, as a 9 pt headline revenue miss was materially impacted by a $20M sequential inventory reduction, along with cycling a $20M-$25M load into the PEP distribution system in the year-ago period, the firm says.