UPDATE: Monster's (MNST) Short-Term Complications Will Pass, UBS Upgrades to Buy

(Updated - June 12, 2015 9:20 AM EDT)

UBS upgraded Monster Beverage (NASDAQ: MNST) from Neutral to Buy with a price target of $154. Analyst Stephen Powers has conviction in the company's long term opportunity and sees short-term concerns as 'priced in'.

"Since reporting Q1 results, MNST's share price has fallen almost -12% due to concerns over a deferral of the KO deal closure, and likely choppiness both domestically and overseas as the system transitions to KO distribution. However, near-term consensus estimates have come down (as has valuation) alongside these issues, leading us to believe that short-term complications are at least directionally priced into the stock. While we think a correction for these factors is fair, we expect them to pass relatively quickly and remain constructive on long-term growth opportunities; upgrade to Buy," said Powers.

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 $127.17 yesterday.

You May Also Be Interested In

• BofA Securities Upgrades Tesla (TSLA) to Buy on wind up of positive catalysts
• Vital Farms (VITL) PT Raised to $32 at Lake Street Capital Markets
• Faraday Technology Corp (3035:TT) PT Lowered to NT$400 at HSBC