Celsius Holdings price target raised to $95 from $85 at Stifel

Stifel raised the firm’s price target on Celsius Holdings (CELH) to $95 from $85 and keeps a Buy rating on the shares. After having hosted meetings with Celsius’ CEO John Fieldly and Chief of Staff Toby David, the firm came away with the view that end-demand is healthy, though it also thinks reported sales in Q2 could again be impacted as the PepsiCo (PEP) system adjusts the amount of Celsius inventory it holds. While the firm reduced its Q2 sales estimate to reflect noted inventory reduction, it lifts its price target, mainly due to increased confidence that the company can maintain market share gains, adding that it prefers to add on weakness given recent share price outperformance.