Why Celsius Holdings Inc. (CELH) Surged On Friday

We recently published a list of Investors Rushed Into These 10 Stocks Today. In this article, we are going to take a look at where Celsius Holdings Inc. (NASDAQ:CELH) stands against other Friday’s best-performing.

Celsius Holdings rallied for a second day on Friday, adding 4.24 percent to close at $37.88 apiece as investors continued to hunt for bargains following two investment firms’ “buy” recommendations for its stock.

Earlier this week, Jefferies assigned a “Buy” recommendation on Celsius Holdings Inc. (NASDAQ:CELH) with a price target of $45, higher than the $44 previously. The adjustment reflected its acquisition of Alani Nu as well as its outlook guidance, which aligns with the market consensus.

A hand pouring a cool can of a carbonated non-alcoholic beverage with a smiley face on it.

In its quarterly results, Celsius Holdings Inc. (NASDAQ:CELH) said that it is targeting to post adjusted EBITDA growth of 17 to 20 percent for the year, which falls within the 19 percent as targeted by analysts.

Meanwhile, Needham & Company maintained its “buy” recommendation and price target of $47 on Celsius Holdings Inc.’s (NASDAQ:CELH) stock.

Deutsche Bank, for its part, gave a more conservative “hold” recommendation with a lower price target of $33 from $35 previously.

Overall, CELH ranks 10th on our list of Friday’s best-performing. While we acknowledge the potential of CELH, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CELH and that has 10,000x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.