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Shares of food and beverage company Celsius Holdings Inc (NASDAQ:CELH) are trading higher today.
Wedbush analyst Gerald Pascarelli reiterated an Outperform rating on the shares and raised the price target from $75 to $90.
Recently, Celsius reported fourth-quarter earnings per share of $0.17, beating the consensus estimate of $0.15. Revenue of $347.43 beat the consensus estimate of $331.49 million.
The solid end to year was rewarded with a stock price reaction that put an exclamation point on what has been an incredible run in the shares over the month of February, said the analyst.
Also See: Celsius Holdings CEO Sees ‘Huge Runway Ahead’ As Stock Soars To New Highs
While the magnitude of the beat trailed what CELH had delivered in the prior three quarters, the analyst opines that there is optimism looking ahead for the company's share gains, which will be driven by strong velocities and increases in shelf space.
In an uninspiring broad consumer staples category with companies struggling for volume growth, CELH, which has the potential to deliver solid revenue growth with upside to margins and earnings, deserves to trade at a premium, said the analyst.
However, with CELH trading among all-time highs, up over 45% year-to-date, the analyst sees limited upside in the share price. The analyst also removed CELH from the Wedbush Best Ideas List (BIL).
Also Read: Celsius Holdings To Gain From Favorable Cost Trends, High Retail Sales Velocity: Analyst
Price Action: CELH shares are trading higher by 6.76% at $84.64 on the last check Monday.
Photo: Courtesy Celsius Holdings
Posted In: CELH
