Wedbush Maintains Outperform Rating for Celsius Holdings: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wedbush has reaffirmed its Outperform rating on Celsius Holdings (NASDAQ:CELH) and increased its price target from $75.00 to $90.00. Celsius Holdings, known for its energy drinks, has seen its shares rise by 0.92% in the last 24 hours to $80.00. The new price target suggests a potential 12.5% increase in share price. Celsius Holdings, with 94% of its revenue from North America, has a 20-year distribution agreement with PepsiCo, which owns an 8.5% stake in the company.
March 04, 2024 | 5:00 pm
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Wedbush maintains an Outperform rating on Celsius Holdings, raising the price target from $75 to $90. The stock has recently traded up to $80, indicating positive momentum.
The reaffirmation of the Outperform rating and the increase in price target by Wedbush are strong positive signals for Celsius Holdings. The recent uptick in share price further supports this optimism. The long-term partnership with PepsiCo and the focus on the North American market, where the majority of its revenue is generated, add to the company's strengths. The analyst's rating and the upward revision of the price target are likely to have a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100