Celsius Holdings price target raised to $40 from $38 at Needham

Needham raised the firm’s price target on Celsius Holdings (CELH) to $40 from $38 and keeps a Buy rating on the shares. The firm is very encouraged on the pending acquisition of Alani Nu, as it was done at a very attractive valuation, it will be accretive to earnings, and it will expedite scale and market share benefits, the analyst tells investors in a research note. Celsius will start to deliver better consumer takeaway trends on a stand-alone basis beyond Q1, which will also likely come with a higher gross margin profile than previously expected, the firm added.