2023-04-26 15:08:12 ET
Celsius Holdings ( NASDAQ: CELH ) pushed higher on Wednesday after Piper Sandler started off coverage on the beverage stock with an Overweight rating.
Analyst Michael Lavery thinks the energy drink stock is poised to break out the brand gaining market share.
"CELH has a differentiated brand that sets it apart from competitors like Red Bull, Monster, other energy drinks, and coffee. It offers a more refreshing alternative to coffee with a strong caffeine boost but without the sugar of most energy drinks."
Lavery sees the Celsius fruit-flavored energy drink lineup as positioned to perform well and called the PepsiCo ( PEP ) deal a positive factor with products now in over 210K U.S. stores, with additional upside planned in 2023.
Piper Sandler has a price target of $110 to rep more than 20% upside potential for the stock.
Shares of Celsius Holdings ( CELH ) rose 2.65% in Wednesday afternoon trading to $92.36 vs. the 52-week trading range of $38.31 to $122.24.
More on Celsius Holdings:
- Celsius: The next Monster?
- Read more breakdowns on Celsius from Seeking Alpha analysts
- View the growth metrics
- Dig into the Seeking Alpha Quant Rating
- See the recent earnings history
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Celsius Holdings rallies after Piper called it an energy drink stock standout