Celsius Holdings falls after TD Cowen cuts to 'hold' on growth concerns

Celsius Holdings

22/01/2025 11:24

** Energy drink maker Celsius Holdings'  CELH.O  shares fall
2.2% to $26.21 premarket
    ** Brokerage TD Cowen downgrades stock to "hold" from "buy",
cuts PT to $29 from $40
    ** Says data shows decline in sales growth in the last four
weeks vs growth recovery in the energy drink category
    ** Says velocity, or sales per retailer, has also declined,
despite growth in retail shelf space for company's products,
says this will further harm distribution growth
    ** Says there is increased competition from Alani Nu's
health-conscious female-forward approach similar to CELH's, as
well as from Red Bull's sugarfree line
    ** Fifteen of 21 brokerages rate the stock "buy" or higher,
five "hold" and one "sell"; with a median PT of $38.50 - LSEG
    ** CELH fell 51.7% in 2024

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))