Deutsche Bank downgraded Celsius Holdings (NASDAQ:CELH) from Buy to Hold. The bank simultaneously raised its price target for the stock from $30.00 to $35.00.
Analysts project that a substantial recovery for the core Celsius brand is unlikely before 2027. Fundamental challenges intensified after weak brand trends in the second quarter of 2026 led to missed revenue and profitability targets.
While the stock rallied over the past month, Deutsche Bank attributes the gains to investor expectations of strategic changes rather than fundamental growth. Other market reactions remain mixed, as Bernstein recently downgraded the stock while Piper Sandler maintained an Overweight rating.