Celsius: A Stronger Portfolio, But The Core Brand Still Needs To Prove Its Recovery

Celsius Holdings is rated a hold at $27.64, aligning with my fair value estimate of ~$28 per share. The PepsiCo partnership and Alani Nu acquisition have strengthened CELH, but core Celsius brand growth remains unproven post-distribution changes. Current valuation is based on a 2027 EPS estimate of $1.55 and an 18x multiple, reflecting 7.3% revenue growth and 17.5% operating margin assumptions.