Celsius Holdings price target raised to $47 from $45 at Needham

Needham raised the firm’s price target on Celsius Holdings (CELH) to $47 from $45 and keeps a Buy rating on the shares after meeting with its management team. The biggest focus point was on core topline performance and the strategy to reinvigorate its growth in a U.S. energy category that has been notably outpacing almost every other consumer staples segment, the analyst tells investors in a research note. Reacceleration in the core is key to unlocking multiple expansion, and looking out over the balance of the year, the firm remains bullish on the setup, as shelf reset wins, a new marketing campaign, and innovation should all provide tailwinds, Needham added.