Celsius Holdings price target raised to $160 from $130 at Roth MKM

Roth MKM analyst Sean McGowan raised the firm’s price target on Celsius Holdings to $160 from $130 and keeps a Buy rating on the shares. The company’s growth will come in better than expected over the next three years driven not only by higher ACV but by accelerating velocity and increased penetration within existing accounts, the analyst tells investors in a research note. International sales at Celsius, which account for less than 5% of total revenue, should also materially accelerate in 2024 and beyond, the firm added.