Stifel lowered its price target for Celsius Holdings (NASDAQ: CELH) to $45. This represents a decrease from its previous target of $62. Stifel maintained a 'Buy' rating on the stock.
The firm cited weakening sales trends for the Celsius brand. This led Stifel to lower its financial estimates for the company. Analysts pointed to SKU rationalization and softer performance from the energy drink's core flavors. These factors contributed to the more cautious outlook.
This action is part of a broader analyst re-evaluation of Celsius. UBS recently lowered its price target to $50. Needham also adjusted its second-quarter revenue estimates downward.