Why Celsius Stock Was Up Nearly 19% in June
Shares of energy-drink company Celsius Holdings (NASDAQ: CELH) were up 18.8% in June, according to data provided by S&P Global Market Intelligence. The stock got a lift as Wall Street raced to raise price targets throughout the month.
Third-party industry sales data suggests well over 100% volume growth for Celsius in June. And this is what Wall Street was responding to when it was raising price targets.
For example, Wedbush analyst Gerald Pascarelli raised his price target for Celsius stock by 19% to $155 per share on June 22, according to StreetInsider. Similarly, Stifel analyst Mark Astrachan raised his price target by 20% to $155 per share on June 7, according to The Fly.
Source Fool.com
