As previously reported, Morgan Stanley analyst Eric Serotta upgraded Celsius Holdings (CELH) to Overweight from Equal Weight with a price target of $70, up from $61. Brand Celsius has returned to growth following last year’s share slowdown and the firm expects further improvement with much easier comps from December through early June, says the analyst, who sees another leg up in the stock to be driven by a greater than expected reacceleration in topline growth. In addition, Alani trends remain robust ahead of the December 1 transition to the Pepsi (PEP) system, which should accelerate growth for the brand.
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