Celsius initiated with Buy, added to Conviction List at Needham

Needham initiated coverage of Celsius Holdings (CELH) with a Buy rating and $38 price target The firm also adds the shares to the Needham Conviction List. While consumer takeaway trends have slowed, “better days lie ahead” for Celsius looking out to 2025, the analyst tells investors in a research note. The firm says that as the number three player in energy, a healthier category along with a continued consumer shift towards zero sugar products, provides a favorable backdrop to re-accelerate revenue, which will overlap with far easier comps. Additionally, inventory optimization headwinds look to be coming to an end, which should remove a major overhang for the shares, says Needham.