Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks

03. Celsius Holdings, Inc. (NASDAQ:CELH)

Price Reaction after the Price Target Cut: -1.54(-2.57%)

On June 17, Roth MKM analyst Sean McGowan reiterated a Buy rating for Celsius Holdings, Inc. (NASDAQ:CELH) but adjusted the price target downwards from $96 to $87. This decision follows recent downward revisions by several analysts, sparked by PepsiCo Inc.’s inventory reduction affecting Celsius Holdings, Inc. (NASDAQ:CELH). McGowan’s adjustment reflects concerns over Celsius Holdings, Inc. (NASDAQ:CELH) growth rates potentially slowing more than initially forecasted. Similarly, analysts at TD Cowen, Stifel, Wedbush, Jefferies, and Morgan Stanley have also revised their price targets downward, aligning with the broader sentiment surrounding Celsius Holdings, Inc. (NASDAQ:CELH) performance outlook. The stock reacted to the price target cut with a decline of 2.57%, indicating investor response to the revised expectations from analysts.

Alger Mid Cap Growth Fund stated the following regarding Celsius Holdings, Inc. (NASDAQ:CELH) in its first quarter 2024 investor letter:

“Celsius Holdings, Inc. (NASDAQ:CELH) engages in the development, marketing, sale, and distribution of functional drinks and liquid supplements. It also offers post-workout functional energy drinks and protein bars. During the quarter, shares contributed to performance after reporting solid fiscal first quarter results, where revenues and earnings beat analyst estimates. The strong quarter was largely attributed to continued partnership success with large global soft drink manufacturers. Moreover, the company signed a partnership with Ferrari racing, emulating the success of other energy drink competitors within F1 racing. Given the encouraging operating results, we continue to believe Celsius is well positioned to potentially capture market share within the large energy and soft drink industry.”