Celsius Holdings price target raised to $70 from $65 at Truist

Truist analyst Bill Chappell raised the firm’s price target on Celsius Holdings (CELH) to $70 from $65 and keeps a Buy rating on the shares. The firm is updating its FY25, FY26 and FY27 estimates following the company’s announcement that the Alani Nu brand will join the PepsiCo (PEP) distribution system, the acquisition of the Rockstar Energy brand in the U.S. and Canada from PepsiCo, and the PepsiCo acquisition of $585M in newly issued convertible preferred Celsius stock, the analyst tells investors in a research note.