KeyBanc starts Celsius at Sector Weight, sees ‘limited’ near-term upside

As previously reported, KeyBanc analyst Christopher Carril initiated coverage of Celsius (CELH) with a Sector Weight rating. The company represents a compelling growth story within its peer set, but this has largely been reflected in share price, with the stock up 66% year-to-date, the analyst tells investors in a research note. The stock’s upside looks somewhat limited given the moving pieces of the operating model, including the integration of Alani Nu into the Pepsi (PEP) distribution system, but there could be opportunity to become more constructive once past these integrations, the firm added.