Stock Track | Celsius Stock Stumbles as Ladenburg Cuts Price Target
Stock Track10-22
Shares of Celsius Holdings Inc. (NASDAQ: CELH) took a hit on Monday, plummeting 5.64% as analysts at Ladenburg Thalmann lowered their price target on the energy drink maker.
In a research note issued before the market open, Ladenburg analyst John Doe trimmed the firm's price target on Celsius to $68 per share from $72 previously. Despite the cut, Doe maintained a Buy rating on the stock, citing the company's strong growth prospects.
The price target reduction comes ahead of Celsius' third-quarter earnings report, which is expected to be released next month. While Ladenburg remains optimistic about the company's long-term outlook, the analysts may have tempered their expectations for the upcoming quarterly results.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
