Why Celsius Holdings Inc. (CELH) Surged On Thursday

We recently published a list of While Wall Street Naps, These 10 Stocks Run Wild. In this article, we are going to take a look at where Celsius Holdings Inc. (NASDAQ:CELH) stands against other best-performing stocks.

Celsius Holdings grew its share prices by 4.04 percent on Thursday to close at $36.34 apiece as investors loaded positions following “buy” recommendations from two investment firms.

On the same day, Jefferies raised its price target for the firm to $45 from $44 previously while maintaining a “buy” recommendation on the shares.

According to Jefferies, the adjustment reflected Celsius Holdings Inc.’s (NASDAQ:CELH) 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.

Celsius Holdings Inc. (NASDAQ:CELH) expects to post adjusted EBITDA growth of 17 to 20 percent for the year, aligned with the 19 percent as targeted by analysts.

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

Meanwhile, TD Cowen reiterated a more conservative rating for the company—a “hold” recommendation with a price target of $37, just a few cents shy of the company’s last closing price.

Overall, CELH ranks 10th on our list of best-performing stocks. 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 100x 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.