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Bank of America downgrades Celsius Holdings (CELH) as market share shrinks

January 19, 2024 10:34 AM EST

Bank of America Global Research downgraded Celsius Holdings, Inc. (NASDAQ: CELH) to a Neutral rating (From Buy) while maintaining a 12-month price target of $65.00 on the beverage company as they continue to unexpectedly lose market share.

CELH remains below its August peak, facing uncertainty regarding sales growth. This uncertainty has shifted the once favorable risk/reward... More