Stifel analyst Mark Astrachan raised the firm’s price target on Celsius Holdings to $191 from $165 and keeps a Buy rating on the shares after sales and gross margin upside drove a “significant EBITDA beat” in Q2. The firm thinks strong sales growth points to meaningfully increasing brand awareness and repeat purchase rates, which it says is supportive of its view that runrate sales approach $1.5B in the first half of 2024.
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