Roth MKM analyst Sean McGowan lowered the firm’s price target on Celsius Holdings (CELH) to $43 from $45 and keeps a Buy rating on the shares. The firm is reducing its Q3 revenue estimates to $381M from $409M as it now expects the impact of Pepsi (PEP) inventory reductions to be at the top end of the range previously given by Celsium management, the analyst tells investors in a research note. Roth MKM adds that promotions are seen weighing on the company’s gross margins and adjusted EBITDA for the upcoming quarter while also calling for lower growth rates in 2025 and 2026.
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