Stifel analyst Matthew Smith lowered the firm’s price target on Celsius Holdings (CELH) to $60 from $74 and keeps a Buy rating on the shares. The firm is lowering its Q4 revenue and EBITDA estimates, incorporating the impact of Alani transitioning to the Pepsi (PEP) distribution network in December and the company signaling the potential for additional inventory destocking at year-end, while lowering its price target to also account for multiple compression, the analyst tells investors in a post-earnings note.
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