Deutsche Bank analyst Steve Powers initiated coverage of Celsius Holdings (CELH) with a Hold rating and $32 price target After a “meteoric rise” in market share, revenue, and profit over the course of 2022 and 2023, Celsius has seen its “fortunes erode” over the last six months amid broader weakness in the energy drink category and decelerating market share growth for the Celsius brand, the analyst tells investors in a research note. The firm sees ongoing inventory drawdowns and incentive realignment by its largest customer, Pepsi.
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