Jefferies Reiterates Buy on Monster Beverage (MNST) Following 2017 Beverage Forum

Jefferies reiterated a Buy rating and $62.00 price target on Monster Beverage (NASDAQ: MNST) following CEO Rodney Sacks' speech at the 2017 Beverage Forum. Mr. Sacks noted some recovery in the US energy drink category in recent months, partially owing to strong growth from ULTRA.

With h-hold penetration for the energy drink category in the US still only ~18%, Mr. Sacks discussed the company's efforts with product innovation and sponsorships as a way to broaden MNST's consumer demographic.

For an analyst ratings summary and ratings history on Monster Beverage click here. For more ratings news on Monster Beverage click here.

Shares of Monster Beverage closed at $45.29 yesterday.

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