Jefferies lowered the firm’s price target on Celsius Holdings (CELH) to $98 from $104 and keeps a Buy rating on the shares after Celsius announced that Pepsi (PEP) is reducing inventories by $20M-$30M in Q2 following a $45M reduction in Q1. While this is “normal in year two of national distribution,” the amount is more than expected, says the analyst, who adds that 2024 growth remains encouraging “despite near-term noise.”
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CELH:
- 3 Best Stocks to Buy Now, 6/13/2024, According to Top Analysts
- Celsius Holdings price target lowered to $83 from $85 at Wedbush
- Celsius Holdings price target lowered to $85 from $95 at Stifel
- Celsius Holdings price target lowered to $68 from $75 at Morgan Stanley
- Celsius Holdings executives say Pepsi still ‘optimizing’ inventory levels