TD Cowen analyst Robert Moskow lowered the firm’s price target on Celsius Holdings (CELH) to $85 from $95 and keeps a Buy rating on the shares. The firm said recent management commentary suggests Pepsi (PEP) inventory reductions will be an incremental $20-$30M headwind in 2Q on top of $25M communicated at 1Q earnings. As a result they lowered their sales estimates to account for a further reduction in Pepsi’s inventory days.
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Read More on CELH:
- 3 Best Stocks to Buy Now, 6/13/2024, According to Top Analysts
- Celsius Holdings price target lowered to $85 from $95 at Stifel
- Celsius Holdings price target lowered to $68 from $75 at Morgan Stanley
- Celsius Holdings executives say Pepsi still ‘optimizing’ inventory levels
- Celsius CEO says Celsius growing, energy drink category ‘slowing’
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