Celsius Holdings, Inc. (NASDAQ:CELH) shares are trading higher on Thursday after Wedbush raised its price target on the stock.
The Details:
On Thursday, Wedbush released a report on Celsius in which the firm maintained an Outperform rating on the stock and raised its price target from $130 to $155.
Analyst Gerald Pascarelli mentions several catalysts including triple-digit growth and consumer takeaway trends which are accelerating.
The analyst points to consumer takeaway trends, long-term US market share opportunity and international expansion as catalysts for the stock.
Survey results conducted as part of the report indicate Celsius is a preferred brand among consumers leading to a positive long-term trend for the company.
Pascarelli also mentioned potential growth resulting from Celsius’s plans to introduce its products to international markets including Canada, Germany, UK, Japan and Australia.
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CELH Price Action: According to Benzinga Pro, Celsius shares are trading over 5% higher at $147.96 at the time of publication.
