Jefferies analyst Kaumil Gajrawala reiterated a Buy rating and $64 price target on Celsius Holdings (CELH), as Alani Nu is moving to PepsiCo’s (PEP) distribution network, and Celsius is acquiring Rockstar in North America, bringing its portfolio to roughly 20% share. The firm is positive on the deal, as it puts to rest concerns around the PepsiCo/Celsius relationship, with stronger alignment in place. With greater control over execution and strategy, Celsius becomes a revenue acceleration story, with a pending margin story as the business integrates, the analyst tells investors in a research note.
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