Celsius (NASDAQ:CELH) stock is down on Tuesday after Morgan Stanley analysts weighed in on the energy drink maker.
The bad news for CELH investors is Morgan Stanley warning that growth at the company is slowing down. This comes after the stock saw a recent run and Celsius handles a distribution agreement with PepsiCo (NYSE:PEP).
Here’s what the Morgan Stanley analysts said in a note to clients obtained by Investing.com.
“CELH percentage sales on promotion increased sequentially in the last three weeks, with CELH pricing down -7% y/y in the latest two weeks. CELH velocity was down -4% y/y in the latest week and -1% for the L4W, with 2-year average velocity growth +HSD reflecting strong year-ago growth.”
CELH Stock Price Target & Rating
Despite the warning from Morgan Stanley, the firm maintained its “equal weight” rating and $75 per share price target for CELH stock. That’s more bearish than the analysts’ consensus rating of moderate buy and price prediction of $88.36 per share.
CELH stock is down 16.7% as of Tuesday afternoon but is still up 34.2% year-to-date. More than 9.9 million shares have also traded as of this writing today. The daily average trading volume of CELH is about 4.9 million shares.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
