Citi says Celsius (CELH) shares have sold off on news that Costco’s (COST) private label Kirkland Signature brand is launching a 24-pack of slim can caffeine energy drinks for $16.99. The three flavors of the Kirkland line match the top selling Celsius brands, the analyst tells investors in a research note. It believes concerns around Celsius are overblown, citing the energy category’s high convenience store exposure and single can format. In addition, private label has historically failed to win major share of the energy drink market, contends Citi. The firm keeps a Buy rating on Celsius with a $65 price target.
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