Celsius Holdings price target raised to $70 from $58 at Roth Capital

Roth Capital raised the firm’s price target on Celsius Holdings (CELH) to $70 from $58 and keeps a Buy rating on the shares. The company’s growth prospects have been significantly enhanced by the recently announced deepening of its relationship with Pepsi (PEP), the analyst tells investors in a research note. Putting Alani Nu into the Pepsi distribution system, taking over the “captaincy” of Pepsi’s energy portfolio and acquiring the Rockstar energy drink brand will combine to accelerate Celsius revenue and adjusted EBITDA growth for several years, the firm added.