Ladenburg Thalman Reiterates Neutral Rating on Celsius Holdings (CELH)

Ladenburg Thalman is out with a research report this afternoon, where it reiterates its Neutral rating on Celsius Holdings

; it has a $0.40 price target on the stock, down from $0.80. The LT analysts said that they continue to believe that CELH's share price will be more event than results driven. They do not believe that a deal to raise capital or sell the company is imminent as potential investors likely want to see results that reflect baseline demand along with stabilized margins. In their opinion, “it could easily be mid-year before the process reaches a more formal negotiation assuming there is an interested party and ultimately Carl DeSantis effectively controls the timeline.” The reduced their target 2011 EV/Revenue multiple from 1.0x, to 0.5x and cutting the price target from $0.80 to $0.40.