CELH - When Will Celsius Stock Finally Hit Rock Bottom?
2024-07-18 11:55:00 ET
Not every stock has participated in the summertime rally. Celsius Holdings (NASDAQ: CELH) has fallen sharply, shedding nearly half of its value since hitting an all-time high in March. The company behind the now widely available functional beverages that help drinkers burn fat and calories when accompanied by cardio activity has lost its carbonation. Is the fizz gone forever?
Two analysts this week have slashed their price targets on the stock, and they have buy ratings on Celsius. With bulls like that, who need bears? It's not easy to be an optimist in a climate of sharply decelerating growth, but things don't have to end badly for the suddenly out-of-favor beverage stock .
Sean McGowan at Roth MKM became the latest Wall Street pro to pare back his near-term expectations for the stock, lowering his target from $87 to $75 on Thursday. Energy drinks in general have experienced a slowdown in sales lately. He also points out that Celsius investor and distributor PepsiCo recently opined that the unusually warm summer has consumers trading energy drinks for water and other hydration-focused beverages. Will sales growth get back on track as the weather starts to cool in the fall?
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When Will Celsius Stock Finally Hit Rock Bottom?