Stifel raised the firm’s price target on Celsius Holdings (CELH) to $56 from $50 and keeps a Buy rating on the shares. Celsius reported Q2 sales and adjusted EBITDA ahead of expectations, primarily driven by the Alani Nu acquisition, the integration of which is ahead of company expectations, the analyst tells investors. The Celsius brand is also returning to growth and the firm raised estimates to reflect accelerating portfolio sales growth, easier comparisons, a strong innovation pipeline and margin expansion that will likely be ahead expectations.
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