Celsius price target lowered to $55 from $75 at Needham
Needham lowered the firm's price target on Celsius to $55 from $75 but keeps a Buy rating on the shares. Expectations are low headed into Q2 earnings, but the firm is cautious on the setup and is lowering its revenue estimates to reflect recent scanner trends for both of the company's driver brands, the analyst tells investors in a research note. Needham adds however that while fundamentals have slowed more quickly than expected, a significant amount of bad news is already embedded in the shares, and with a cleaner 2027 on the horizon, the firm sees the current risk/reward setup as "compelling".
Needham lowered the firm's price target on Celsius to $55 from $75 but keeps a Buy rating on the shares.
Expectations are low headed into Q2 earnings, but the firm is cautious on the setup and is lowering its revenue estimates to reflect recent scanner trends for both of the company's driver brands, the analyst tells investors in a research note.
Needham adds however that while fundamentals have slowed more quickly than expected, a significant amount of bad news is already embedded in the shares, and with a cleaner 2027 on the horizon, the firm sees the current risk/reward setup as "compelling".