Celsius Holdings price target raised to $55 from $47 at Needham

Needham raised the firm’s price target on Celsius Holdings (CELH) to $55 from $47 and keeps a Buy rating on the shares. Heading into Q2 results, sentiment on the stock is “very high”, though the firm still likes the risk/reward setup headed into the print and believes that Celsius is well-positioned to overdeliver on expectations, the analyst tells investors in a research note. Needham expects share price momentum to sustain as both Celsius brands continue to accelerate in tandem, while its core closes in on regaining share of the category.