Credit Suisse Starts Monster Beverage (MNST) at Outperform
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Credit Suisse initiates coverage on Monster Beverage (NASDAQ: MNST) with a Outperform rating and a price target of $187.00.
Analyst Laurent Grandet commented, "We are initiating coverage of Monster Beverage with an Outperform rating and a $187 target price. We think the company has exceptionally strong fundamentals, driven by the popularity of energy drinks, especially with Millennial consumers. We expect strong growth to persist and even accelerate for Monster in the coming years as it continues to broaden its range and expand geographically thanks to the Coke distribution system. Our estimates are broadly in-line with the consensus through FY17 but ahead by 2% in FY18 owing to more aggressive assumptions around innovation launches and increased distribution in international markets."
Shares of Monster Beverage closed at $146.35 yesterday.
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