Celsius Holdings named ‘top overall pick’ at Wedbush
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Celsius Holdings (NASDAQ:CELH) stock edged higher on Friday after being selected as a top pick at Wedbush.
Equity analysts Gerald Pascarelli and Antoine Legault explained that recent meetings with management were extremely encouraging. As such, the team believes there is room for rapid market share gains in the energy drink space, bolstered by a key partnership with PepsiCo (PEP).
âWith the distributor transition into the PEP system now complete, CELH enters 2023 well-positioned with numerous levers to drive further growth and scale, which also come with the prospects for better profitability,â the two told clients. âWith the company achieving record levels of market share gains, which continue to make new highs, the recent share weakness is simply not indicative of fundamental performance.â
In their view, a double-digit percentage decline for the stock since the start of 2023 is unjustified. As such, a key buying opportunity is available for investors at present. 
âWe believe the YTD pullback creates a compelling entry point for investors looking for exposure to the most disruptive and fastest growing company in all of CPG,â Pascarelli and Legault concluded. âWe are adding CELH to our Best Ideas List and rating them as our Top Overall Pick.â
Read more on recent market share dynamics in the energy drink industry.