In a report released today, Anthony Vendetti from Maxim Group maintained a Buy rating on Celsius Holdings Inc (CELH), with a price target of $8. The company’s shares opened today at $3.73.
Vendetti said:
“Market open, CELH announced a license agreement with Qifeng Food to sell its Celsius-branded products in China. CELH will receive $6.9M in fixed license fees over the next five years, and annual volume-based royalty fees thereafter. In addition, Qifeng Food will repay CELH all invested capital to the China market over a five-year term loan of roughly $10M. We expect the agreement to close by March 31, 2019.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 4.4% and a 50.2% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Restoration Robotics Inc, Ra Medical Systems Inc, and Xtant Medical Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celsius Holdings Inc with a $7.50 average price target.
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The company has a one-year high of $6.05 and a one-year low of $3.05. Currently, Celsius Holdings Inc has an average volume of 52.2K.
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Celsius Holdings, Inc. engages in the development, marketing, sale, and distribution of calorie-burning beverages. It offers flavors including grapefruit, cucumber lime, orange pomegranate, pineapple coconut, watermelon berry, and strawberries and cream. The company was founded in April 2004 and is headquartered in Boca Raton, FL.
