Celsius Holdings price target lowered to $87 from $96 at Roth MKM

Roth MKM analyst Sean McGowan lowered the firm’s price target on Celsius Holdings (CELH) to $87 from $96 and keeps a Buy rating on the shares. The stock’s correction from its recent run-up is an “overreaction” but not one without a catalyst as the management has confirmed additional inventory contractions by Pepsi (PEP) will cut into Q2 revenue, while the recent scan data also suggest possible slowing growth, at least in the short term, the analyst tells investors in a research note. The firm is also cutting its Q2 revenue estimate to Celsium to $406M from $453M prior.