Goldman Sachs Initiates Celsius at Buy With $72 Target on Growth and Global Expansion
Goldman Sachs has started coverage of Celsius Holdings with a Buy rating and a $72 price target, citing the energy drink maker’s strong momentum in both market share and profit margins. The firm highlighted Celsius as one of the most compelling growth stories in the consumer packaged goods sector, driven by rapid gains in the U.S. energy drink market where it already commands a 17% share.
Goldman expects Celsius to surpass 20% market share by 2026, supported by new product launches, expanded retail placement, and its acquisition of Alani Nu. Analysts also pointed to international expansion—which currently accounts for only 3% of sales—and increased consumer adoption as key growth drivers.
The bank forecasted sustained double-digit revenue growth led by higher volumes, along with margin improvements as the company benefits from scale efficiencies in procurement and production. While margin gains are expected to be gradual, Goldman sees potential for Celsius’ profitability to approach levels seen at Monster Beverage over time.
Despite Celsius stock already surging 106% this year, Goldman said its valuation remains attractive. The stock trades at a 54% premium to beverage peers, which is still below its three-year average premium of 78%. The analysts believe the market is underestimating further upside from market share gains and margin expansion, which could drive continued re-rating of the stock.
