Celsius Holdings price target raised to $40 from $35 at BofA

BofA raised the firm’s price target on Celsius Holdings (CELH) to $40 from $35 and keeps an Underperform rating on the shares. Q2 results displayed strong fundamentals, with core Celsius sales re-accelerating and the integration of Alani Nu progressing smoothly, though the valuation post-reaction “sits well in excess of SMID cap peers” and the debate from here will center on an appropriate valuation multiple as fundamentals improve, the analyst tells investors in a post-earnings note.