Monster Beverage (MNST) PT Raised to $95 at BMO Capital Following Update

BMO Capital analyst Andrew Strelzik raised the price target on Monster Beverage (NASDAQ: MNST) to $95.00 while maintaining a Market Perform rating following business update.

The analyst commented, "MNST hosted a business update following its annual shareholder meeting. We view the event positively and increase our target to $95. Confirmation of Red Bull pricing coming in September tempers concern about MNST's market share outlook and, recognizing the fluid cost environment, potential cost benefits continue to emerge for future quarters. Recognizing the sales momentum and relative stability MNST offers, we believe meaningful earnings upside or multiple expansion is needed to justify an Outperform rating at current levels, and visibility to either is limited given the uncertain consumer/cost outlooks."

You May Also Be Interested In

• Freedom Broker Upgrades PrimeEnergy Resource (PNRG) to Hold
• DA Davidson Reiterates Neutral Rating on Brunswick Corp (BC)
• BofA Securities Reiterates Buy Rating on Micron Technology (MU); Sees $230+ in EPS by FY30