Is Celsius Holdings Stock Going to $30? 1 Wall Street Analyst Thinks So.

One analyst tracking the fortunes of Celsius Holdings (NASDAQ: CELH) is no longer enjoying the taste of the stock. He downgraded his recommendation on the natural ingredients energy drink maker, compounding that with a rather drastic price target cut. Is it time for investors to bail from the stock?In an update on the stock published toward the end of April, CFRA's Garrett Nelson changed his Celsius recommendation from "buy" to "sell," bypassing the middle-ground "hold" tag entirely. Accordingly, he made a significant reduction to his price target, from $45 per share all the way down to $30. Based on the new price target, he anticipates a nearly 20% price decline from the stock's current level of about $36. According to reports, Nelson feels the stock's rally over the past few months -- after coming under heavy selling pressure before that -- has made its risk/reward profile unappealing. The analyst also expressed concern over the notable decline in short interest recently. In his view, this makes it less vulnerable to a price-boosting short squeeze.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool