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1 Wall Street Analyst Raises Celsius Holdings' Price Target by 36%: Here's Why He's Right.

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1 Wall Street Analyst Raises Celsius Holdings' Price Target by 36%: Here's Why He's Right.: https://g.foolcdn.com/editorial/images/767698/athlete-at-sunset.jpg

Shares of Celsius Holdings (NASDAQ: CELH) have soared over the past year. And the stock shot higher again last week after the company reported fourth quarter and full-year 2023 earnings.

That led one Wall Street analyst to raise his firm's price target on the fitness drink company by 36%. Peter Grom from UBS maintained his buy rating on the shares but hiked his price target from $73 to $99 per share. That would represent a 14% gain from the stock's closing price as of this writing.

Grom sees the company growing rapidly in several areas. Investors already believed in the growth story with the stock rising 57% in 2023.

Source Fool.com

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