Stephens lowered its price target on Celsius Holdings (CELH) to $50 from $65. The firm maintained an "Overweight" rating on the stock. This revision follows the energy drink maker's second-quarter earnings report on August 6.
Celsius Holdings reported adjusted earnings of $0.36 per share. This fell short of consensus estimates of approximately $0.41 per share. The company posted revenue of $817.9 million, missing the $870 million revenue estimate.
The miss stemmed from an 11.7% decline in sales for the flagship Celsius brand. This decline was linked to inventory rebalancing and increased promotions.