Celsius Holdings price target raised to $30 from $26 at BofA

BofA analyst Jonathan Keypour raised the firm’s price target on Celsius Holdings (CELH) to $30 from $26 and keeps an Underperform rating on the shares. The firm lowered its Q1 sales estimate by 6% to $363M and takes EPS down 1c to 24c, mainly driven by factoring in higher promotional allowances year-over-year, noting that its model also now reflects the pro forma combined business including the Alani Nu acquisition which closed April 1. The firm raised its target on the basis of deal-driven EBITDA and EPS accretion, but sees the added growth being balanced by execution risk and lower visibility into the category niche Celsius plus Alani is vying for, the analyst tells investors.