Celsius Holdings Inc (CELH) Gets a Buy Rating from Maxim Group

By Austin Angelo

In a report released yesterday, Anthony Vendetti from Maxim Group maintained a Buy rating on Celsius Holdings Inc (CELHResearch Report), with a price target of $8. The company’s shares opened today at $4.75.

Vendetti wrote:

“Market open, CELH reported better-than-expected 2Q19 revenue and gross margin compared to both our and consensus estimates. Reported GAAP loss per share was ($0.01) wider than both Maxim and consensus. CELH signed a host of new distribution agreements and now has over 50 regional direct store delivery (DSD) partners across the country. We are increasing estimates based on the revenue beat, and expect strong continued domestic expansion. We are also introducing quarterly estimates for 2020.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 5.7% and a 49.2% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celsius Holdings Inc with a $8.50 average price target, which is a 78.9% upside from current levels. In a report issued on July 31, B.Riley FBR also reiterated a Buy rating on the stock with a $9 price target.

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The company has a one-year high of $5.37 and a one-year low of $3.05. Currently, Celsius Holdings Inc has an average volume of 76.06K.

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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.