Stifel analyst Mark Astrachan raised the firm’s price target on Celsius Holdings (CELH) to $165 from $155 and keeps a Buy rating on the shares. The firm’s deep dive build-up of Celsius’ sales by segment, comprising U.S. scanner data, Amazon (AMZN), Costco (COST), all other North America untracked channels, and international, suggests year-over-year sales growth of 99% in Q2, versus the consensus call for growth of 79%, the analyst tells investors. In addition, an analysis of scanner data shows strong end-demand and increasing brand awareness and repeat purchase rates since the changeover to the PepsiCo (PEP) system, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CELH:
- Celsius Holdings downgraded to Hold from Buy at Maxim
- Celsius Holdings call volume above normal and directionally bullish
- Stifel ‘more measured’ on near-term impact of Celsius’ international opportunity
- 3 Strong-Buy-Rated Beverage Stocks with Energy to Run Higher
- Celsius one of the best best consumer growth stories, says Piper Sandler