Celsius Holdings (NASDAQ:CELH) shares continued to trade higher Monday, rising about 3% and adding to a sharp 9.5% advance posted on Friday. Investors reacted to management comments made at the Consumer Analyst Group of New York conference that quantified notable increases in retail shelf space.
Company executives said the Alani Nu brand is slated to receive 102% more shelf space allocation in 2026, while the core Celsius energy drink brand is on track for a 17% increase in shelf space for the year. Analysts cited those specific figures as surpassing investor expectations and a material data point for future revenue projections.
TD Cowen analyst Robert Moskow kept a Buy rating on Celsius and assigned a $55 price target. Moskow emphasized the importance of the new distribution metrics, writing:
"We view the quantification of Alani Nu distribution gains as a key positive for the stock. The company has built a solid #3 position in the energy drink category and is poised for further market share gains as it executes on its commercial plans with PepsiCo driving distribution gains for both Celsius and Alani Nu."
According to Moskow, the shelf space increases imply potential upside to Alani Nu sales estimates for 2025. TD Cowen currently models 31% growth for Alani Nu and expects 2026 sales of $3.28 billion, a figure it notes is above the consensus estimate of $3.23 billion.
Management also spoke to the relationship with PepsiCo, describing Celsius as the "energy drink captain" within that partnership. The company said that status enables it to concentrate on brand and portfolio strategy while leveraging PepsiCo's distribution network to expand placement and reach.
Executives pointed out category dynamics as well, stating that zero sugar products accounted for 85% of total energy drink category growth in 2025, and that Celsius was responsible for 33% of that zero sugar growth.
On valuation and profitability, TD Cowen applies an 18x EV/EBITDA multiple to its 2027 EBITDA projection for Celsius. The firm contrasted that multiple with Monster's 27x, citing Celsius' history of operational volatility as a rationale for a lower multiple. TD Cowen's 2026 EBITDA estimate for Celsius stands at $752.5 million, which it reports is above the consensus estimate of $741.6 million.
Market response to the shelf space disclosures and the accompanying analyst commentary pushed the stock higher across the most recent trading sessions, as investors absorbed the quantified distribution gains and updated forecasts.
Contextual note: The company mentioned specific shelf space percentage increases, sales and EBITDA estimates, and the role of PepsiCo in distribution during the conference remarks. Those figures form the basis for the analyst reaction and the recent stock moves.