After having attended the National Association of Convenience Stores tradeshow, Stifel said conversations with brand owners and retailers generally had “a more upbeat tone on convenience store category sales that are anticipated to improve in 2025,” which is most notable for energy drinks given that about 62% of category sales are in c-stores and that category growth in that channel has decelerated to about 1% in 2Q24/3Q24 from about 12% growth from 2021-1Q24. The firm, which continues to anticipate generally improving sales trends reflecting more favorable comparisons, innovation, and pricing, has a Buy rating with a $51 price target on Celsius (CELH) shares and a Buy rating and $57 price target on Monster Beverage (MNST).
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Read More on CELH:
- Celsius sales growth soft for two weeks ended September 21, says Morgan Stanley
- Celsius Holdings price target lowered to $43 from $45 at Roth MKM
- Celsius Holdings put volume heavy and directionally bearish
- Celsius Holdings to increase trade promotions, says Maxim
- Celsius Holdings slips after Morgan Stanley cuts estimates
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