Celsius Holdings price target raised to $84 from $80 at BofA

BofA raised the firm’s price target on Celsius Holdings (CELH) to $84 from $80 and keeps a Neutral rating on the shares after holding talks with its management. The company has reiterated that it expects the impact of more efficient inventory control between themselves and the Pepsi (PEP) distribution system will manifest as a $20M headwind in Q2 again and that Celsius’ U.S. sales will be lapping a $5M benefit from inventory build in Q2 of last year, the analyst tells investors in a research note. BofA adds that today’s negative stock reaction likely reflects a better appreciation of these same factors that had been messaged earlier this month.