Advance Auto Parts said that it has launched an aggregate principal amount of $1.5 billion senior unsecured notes offering, with Citigroup analyst Steven Zaccone calling it a “wise decision.”
Over the past six months, Citigroup has been a great trade, beating the S&P 500 by 13.5%. Its stock price has climbed to $96.00, representing a healthy 17.8% increase. This was partly thanks to its solid quarterly results, and the run-up might have investors contemplating their next move.
Shares of energy drink company Celsius (NASDAQ:CELH)
jumped 3.1% in the afternoon session after Citigroup initiated coverage on the stock with a "Buy" rating and a $55 price target. The investment bank's positive outlook was based on strong momentum in the U.S. energy drink market and significant long-term opportunities for international growth. Citi's analysts noted that Celsius is well-positioned to accelerate sales in 2025, aided by its core brand and the recent acquisition of Alani Nu. Citi highlighted that Celsius has substantial room for growth in its distribution network, as its presence remained significantly below that of competitors like Monster and Red Bull. Currently, only 5% of Celsius's revenue came from outside the U.S., which suggested a large untapped market for global expansion. The firm's price target of $55 represented a potential upside of over 24% from the stock's previous closing price.
Shares of computer processor maker Intel (NASDAQ:INTC)
jumped 3.2% in the morning session after Stifel raised its price target on the company, adding to investor optimism ahead of its quarterly earnings report. Stifel lifted its price target on Intel to $24.50 from $21.00, while maintaining a "Hold" rating on the shares. The move comes as investors and analysts keenly await the company's second-quarter results. According to the analyst note, investor focus will likely be on the company's long-term strategy, including updates on its advanced 18A and 14A chip production processes and efforts to restructure its portfolio.
