Celsius Holdings Downgraded: Analyst Cautions Weak Consumer Environment, No Meaningful Recovery Projected Until Summer 2025
CELHCelsius(CELH) Benzinga·2024-08-09 02:32

BofA Securities analyst Jonathan Keypour downgraded Celsius Holdings, Inc. CELH from Neutral to Underperform, lowering the price forecast to 32from32 from 60.Although the energy drink category had been consistently growing at a sustainable rate of +4-5% annually, the analyst notes that this growth began to decline earlier this year.According to the analyst, the slowdown in the category will have an outsized impact on Celsius. The analyst has not forecasted meaningful recovery until next summer.The slowdown was ...