PepsiCo Acquires an 8.5% Stake in Energy Drink Maker Celsius for $550 Million
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Morgan Stanley on Pepsico (PEP): 'Celsius Distribution Agreement a Modest Positive'
August 1, 2022 3:16 PM EDTMorgan Stanley analyst Dara Mohsenian reiterated an Overweight rating and $198.00 price target on Pepsico (NASDAQ: PEP)
The analyst comments ". PEP this morning announced a long-term agreement with Celsius Holdings (CELH/Not Covered) to distribute CELSIUS fitness/energy drinks in the US. Celsius is a small but fastgrowing company in the better-for-you/active lifestyle segment of energy drinks, with ~3.5% share of the overall US energy drink category,and >200% growth over... More
