Is Celsius Stock going to $87? 1 Wall Street Analyst Thinks So.
Shares of functional energy drink maker Celsius (NASDAQ: CELH) are down 41% in the last month after Nielsen reported that the company's share of the energy drink market dropped from 10.8% to 10.5% in May.
This market share dip, paired with worries about Celsius struggling to lap the triple-digit sales growth rates it saw following its partnership with , caused Wall Street to take a cautious stance toward the growth stock.
After receiving eight lowered price targets from Wall Street in the last month alone, Celsius welcomed a more upbeat outperform rating from Kevin Grundy with Exane BNP Paribas, who set an initial price target at $87. That target implies a 54% jump from the current price over the next 12 months.
Source Fool.com
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