Celsius Stock Falls on Slowdown Concerns. It's Still a Top Buy. -- Barrons.com
Shares of energy-drink company Celsius dropped 3% on Monday after an analyst lowered his price target for the stock on concerns of lower-than-expected summer sales.He is at least the sixth analyst to do so in the past week. The stock was down over 3% in Monday afternoon trading, while the S&P 500 was up 0.5%.Celsius management recently said that PepsiCo, its major distribution partner, reduced inventory of the energy drink by $20 million to $30 million in the second quarter. This comes after Pepsi made a similar cut in the prior quarter.In a Monday note, Roth MKM analyst Sean McGowan reduced his price target for the stock from $96 to $87, but maintained a Buy rating.Celsius stock has been riding high on the rapid growth, soaring from $1 to $2 per share before the pandemic to its peak of $96 by Mar