Celsius Holdings price target lowered to $92 from $99 at UBS

UBS analyst Peter Grom lowered the firm’s price target on Celsius Holdings to $92 from $99 and keeps a Buy rating on the shares. Celsius reported Q1 adjusted EPS well ahead of consensus and a 400 basis point beat on gross margin more than offset to-line softness, with sales 9% below Street expectations, the analyst tells investors in a research note. UBS continues to believe the risk/reward skews to the upside as market share improvement will drive greater confidence in the top line trajectory long-term and the Q1 margin performance gives the firm greater confidence that Celsius can narrow the gap vs. their largest publicly traded peer sooner rather than later.