UBS reiterated a Buy rating on Celsius Holdings but lowered its price target to $50 from $55. The new target still implies significant upside from the current share price of about $31. The cut follows analysis of Core Celsius and Alani Nu brand trends through May and June, which showed Traditional Fruit flavors as the only growing product line in the core Celsius portfolio while Essentials continued to decline and Vibe products slowed, with SKUs dropping 17% in the four-week period ending June 13. The top 10 SKUs continue to offset the slowdown, posting 6.2% growth over the last four weeks and 9% over the last 13 weeks, and the company is progressing on SKU rationalization as it gains incremental shelf space.
Celsius Holdings IncUBS reiterates Buy but cuts price target to $50 from $55, citing mixed brand trends; new target still implies upside.