Shares of Celsius Holdings, Inc. (CELH) are surging 5.13% in pre-market trading on Friday, as the energy drink maker receives a wave of positive analyst sentiment. The stock's upward movement comes in response to several major financial institutions raising their price targets for CELH.
In a series of reports released early Friday, analysts from various firms including UBS, Deutsche Bank, Bank of America, Jefferies, Citigroup, Morgan Stanley, Stifel, and JP Morgan have all increased their price targets for Celsius Holdings. This widespread optimism from Wall Street appears to be driving investor enthusiasm for the stock.
Notable upgrades include JP Morgan raising its target price to $68 from $54, UBS increasing its target to $64 from $57, and Citigroup adjusting its price objective to $60 from $55. Even the more conservative estimates saw significant increases, with Deutsche Bank raising its target to $48 from $36. These upgrades suggest that analysts see substantial growth potential for Celsius Holdings in the near future, likely contributing to the stock's pre-market rally.
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