Celsius Holdings (NASDAQ:CELH) watched its shares rise Tuesday after being upgraded to outperform from neutral by Credit Suisse. The firm said the distribution agreement with Pepsi is going well and the long-term potential is high.
According to The Motley Fool, “Speed has been the name of the game for Celsius lately. It ended its streak of five consecutive quarters of triple-digit revenue growth last time out. It managed to post a year-over-year increase of only — checks notes — 98% in the third quarter . Business should continue to decelerate, but it’s still growing several times faster than its two larger rivals, Red Bull and Monster Beverage .
The site continued, “Armed with a global pop star that recently signed on as both a distribution partner as well as a minority shareholder, Celsius is in good shape heading into this week’s telltale report. Will the stock follow suit and put on its running shoes this week? Celsius shares bucked the market malaise that plagued growth stocks in 2022 by posting market-thumping returns. After a sluggish start to 2023, a strong report could have Celsius bouncing back this year.”
The company is due out with Q4 and end-of-fiscal figures on Wednesday.
CELH shares hiked $3.27, or 3.6%, to $93.29.