Celsius Holdings price target lowered to $68 from $72 at Ladenburg

Ladenburg lowered the firm’s price target on Celsius Holdings (CELH) to $68 from $72 and keeps a Buy rating on the shares ahead of the Q3 quiet period. Celsius is navigating the impact of inventory drawdowns from PepsiCo (PEP), and the firm notes that Pepsi’s inventory optimization is expected to result in a $100M-$120M order reduction for Q3, with the final figure trending toward the higher end of that range. Despite the near-term impact of inventory adjustments and promotional headwinds, Ladenburg maintains a positive outlook on Celsius’s long-term growth potential, driven by expanding market penetration and category leadership within functional energy beverages, the analyst tells investors in a research note.