B.Riley FBR analyst Jeff Van Sinderen reiterated a Buy rating on Celsius Holdings Inc (CELH) today and set a price target of $9. The company’s shares closed yesterday at $4.99, close to its 52-week high of $5.37.
Van Sinderen noted:
“CELH reports 2Q results BMO on 8/8. We believe that there is potential upside to our revenue estimate, driven by continued strong growth in North America. The less mature domestic market with a U.S. population of ~328M is the primary driver of near- and intermediate-term sales growth. Recall that the recent China deal enables the company to focus on investment and growth in other regions, while ceasing further up-front capital investment, mitigating downside risk and providing plenty of upside potential. With the China deal now closed, the company’s focus on the key North American region should facilitate driving toward the critical- mass sales target of $100M.”
According to TipRanks.com, Sinderen has 0 stars on 0-5 star ranking scale with an average return of -3.4% and a 43.3% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Chromadex Corp, and Steven Madden.
Currently, the analyst consensus on Celsius Holdings Inc is a Moderate Buy with an average price target of $8.
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Based on Celsius Holdings Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $11.66 million. In comparison, last year the company had a GAAP net loss of $3.35 million.
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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.