After having hosted meetings with Celsius’ CEO, EVP, CFO, and other senior managers, Stifel analyst Mark Astrachan adjusted the firm’s price target on Celsius Holdings to $64 from $191 to reflect the recent stock split and keeps a Buy rating on the shares. Management was optimistic on maintaining strong sales and profit momentum in 2024 and the firm continues to think a sales run-rate approaching $2B in the first half of 2024 is achievable, the analyst tells investors.
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