Celsius Holdings (CELH) PT Lowered to $50 at TD Cowen

TD Cowen analyst Robert Moskow lowered the price target on Celsius Holdings (NASDAQ: CELH) to $50.00 (from $68.00) while maintaining a Buy rating.

The analyst commented, "Celsius sales beat the 2Q forecast that we and the Street had significantly lowered due to concerns about Pepsico inventory reductions and slowing consumption trends. We tamp down our 2024 sales growth forecast to 19% and lower our PT to $50 due to our concerns about weakness in Energy category consumption, heightened competitor promo activity, and sequential market share stagnation."

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