Here's Why Celsius Stock Dropped Lower Today
Shares of energy drink company Celsius Holdings (NASDAQ: CELH) dropped lower on Friday after a prominent analyst downgraded their outlook for the stock. As of 11:15 a.m. ET, Celsius stock was down 10%.
Bank of America analyst Jonathan Keypour downgraded Celsius stock today, according to StreetInsider. According to TipRanks, the analyst has a price target of $65 per share for Celsius, which still represents significant upside. However, Keypour had previously recommended buying Celsius stock, whereas now he's downgraded his recommendation to neutral.
Keypour is reportedly concerned about Celsius' sales growth going forward. And in all fairness, I believe it's reasonable to expect growth to slow for the company, relatively speaking.
Source Fool.com
