Piper Sandler analyst Michael Lavery lowered the firm’s price target on Celsius Holdings (CELH) to $33 from $47 and keeps an Overweight rating on the shares. The firm notes the company’s top-line momentum remains soft, but it does expect a boost to shipments in 2025 as it laps PepsiCo’s (PEP) inventory de-loading. Piper expects shipments to outpace consumption in 2025, and expects growth to be about 20%, even if underlying consumption remains flat.
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