Celsius Holdings price target lowered to $50 from $55 at BofA

BofA analyst Peter Galbo lowered the firm’s price target on Celsius Holdings (CELH) to $50 from $55 and keeps an Underperform rating on the shares. The poor reaction in shares to the Q3 report likely reflected investor crowding long into the print as core Brand Celsius North America sales missed “an elevated bar,” the analyst tells investors. While the firm expects significantly less disruption in Q4, it argues that the earnings call “did not fully quell investor concerns,” given commentary regarding choppy inventory dynamics into year-end by both distributors and retailers.