B. Riley lowered the firm’s price target on Celsius Holdings (CELH) to $47 from $50 and keeps a Buy rating on the shares ahead of the Q3 report on November 6. The Q3 metrics will reflect substantial impact from PepsiCo’s ongoing inventory optimization, the analyst tells investors in a research note. Riley reduced estimates but is focused on Celsius’ longer-term growth drivers.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CELH:
- Celsius Holdings acquires Big Beverages for $75M
- Celsius Holdings Appoints New Board Member from PepsiCo
- Celsius Holdings names Israel Kontorovsky to board
- Celsius Holdings call volume above normal and directionally bullish
- Keurig Dr Pepper to acquire energy drink maker Ghost for over $1B, WSJ reports