UPDATE: Citigroup Initiates SodaStream International at Buy on Momentum

Citigroup initiated coverage on SodaStream International Ltd.

with a Buy rating and a $60.00 price target. Citigroup said, "SODA's growth over the last year has come from new distribution wins, higher household penetration rates and stronger levels of ongoing consumption. While we believe that as the law of larger numbers kick in, SODA's growth will slow (e.g. we model revenue growth slowing from 36% in 2012 to 20% in 2013), we nonetheless expect SODA will be one of the fastest growth stories in our group over the next few years." SodaStream International closed at $47.00 on Thursday.