Stifel raised the firm’s price target on Celsius Holdings (CELH) to $70 from $56 and keeps a Buy rating on the shares after the company announced an expanded agreement with PepsiCo (PEP) including transitioning Alani Nu to the PEP distribution system, Celsius acquiring the Rockstar brand, and Celsius being named Pepsi’s U.S. strategic energy captain. The firm believes the Rockstar transaction and Alani Nu distribution agreement strengthens Celsius Holdings’ importance to Pepsi, the analyst tells investors.
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