Celsius selloff on Kirkland drink looks overdone, says Roth Capital

Roth Capital says shares of Celsius (CELH) have fallen sharply in recent days after Costco’s (COST) introduced a Kirkland Signature-branded energy drink. “While the introduction by a major customer of a competing product is not a good development, we believe the dramatic drop in the share price is overdone,” the analyst tells investors in a research note. Roth says that while the news is not good for Celsius, its brand loyalty on the strength of its flavors provides “some protection.” The firm has a Buy rating on the shares with a $67 price target.