Celsius Holdings price target raised to $220 from $180 at Roth MKM

Roth MKM analyst Sean McGowan raised the firm’s price target on Celsius Holdings to $220 from $180 and keeps a Buy rating on the shares. The firm notes that its Retail scan data continue to show sharp and accelerating growth in sales of Celsius energy drinks, with recent NielsenIQ data showing annual increases of over 160%, the analyst tells investors in a research note. Roth MKM expects Celsius Holdings to deliver strong revenue growth that should “continue for the rest of 2023 and beyond”, recommending that investors take advantage of the recent price pullback.