BUZZ-Celsius Holdings falls after TD Cowen cuts to 'hold' on growth concerns

Energy drink maker Celsius Holdings' CELH.O shares fall 2.2% to $26.21 premarket

Brokerage TD Cowen downgrades stock to "hold" from "buy", cuts PT to $29 from $40

Says data shows decline in sales growth in the last four weeks vs growth recovery in the energy drink category

Says velocity, or sales per retailer, has also declined, despite growth in retail shelf space for company's products, says this will further harm distribution growth

Says there is increased competition from Alani Nu's health-conscious female-forward approach similar to CELH's, as well as from Red Bull's sugarfree line

Fifteen of 21 brokerages rate the stock "buy" or higher, five "hold" and one "sell"; with a median PT of $38.50 - LSEG

CELH fell 51.7% in 2024

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))