UPDATE: Jefferies Starts Celsius Holdings (CELH) at Buy
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(Updated - September 16, 2021 7:53 AM EDT)
Jefferies analyst Kevin Grundy initiates coverage on Celsius Holdings (NASDAQ: CELH) with a Buy rating and a price target of $115.00.
The analyst commented, "We initiate on CELH w/ a Buy rating. We see a long runway for growth at CELH, which we view as a disruptive brand, w/ vastly improved distribution, in the fast-growing performance energy drink segment. CELH offers industry leading growth, material scope for margin upside (akin to MNST in early 2000s), and compelling intl./strategic "optionality". At 16.8x NTM EV/sales, premium to 1st quartile growth comp avg. of 9.5x is warranted, and $115 PT supported by DCF."
Shares of Celsius Holdings closed at $90.90 yesterday.
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