PEP - Celsius Holdings Downgraded - Bank of America Analyst Warns Lack of Differentiating Innovation Cutthroat Competition | Benzinga
BofA Securities analyst Jonathan Keypour downgraded Celsius Holdings, Inc. (NASDAQ:CELH) to Neutral from Buy, maintaining the forecast at $65.
With the company’s market share unexpectedly declining and still down versus the August peak, uncertainty around sales growth now weighs on what had been a more favorable risk/reward profile when they were benefitting from the momentum of the PepsiCo, Inc. (NASDAQ:PEP) distribution deal, the analyst writes.
The company’s U.S. sales continue to be ...