Stifel analyst Mark Astrachan lowered the firm’s price target on Celsius Holdings (CELH) to $37 from $45 and keeps a Buy rating on the shares. The firm reduced its “below consensus” 2025-2026 sales and adjusted EBITDA estimates, reflecting weakening sales trends in scanner data tracked channels, which it thinks could result in additional modest destocking of inventories by Pepsi (PEP). The firm now models Q1 and Q2 sales growth of down 8% and up 2%, respectively, adding that it continues to see Celsius shares being range-bound pending improvement in sales and market share in U.S. scanner data.
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