Goldman Sachs Upgrades Monster Beverage (MNST) to Conviction Buy; Sees "Monster" Growth

Goldman Sachs upgraded Monster Beverage (NASDAQ: MNST) from Neutral to Conviction Buy with a price target of $124, suggesting 28% upside.

The firm said Monster offers the best growth stories in consumer staples, with 20%+ growth, due to strong brand momentum. Goldman also said they see tea/energy drink brand "Rehab" adding another leg of already strong sales growth.

Goldman raised EPS estimates and are now 6%-7% above consensus for 2012 and 2013.

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 $96.99 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Freedom Broker Upgrades Walmart (WMT) to Buy
• NetEase.com (NTES) PT Raised to $168 at Goldman Sachs
• William Blair Upgrades Moderna (MRNA) to Outperform, 'we believe Moderna has a clear line of sight to revenue diversification from the COVID business