AMA Proposal 409 Contains No New Info, Monster Beverage (MNST) Sell-Off 'Overdone'

On Friday Monster Beverage (NASDAQ: MNST) stock declined on news the American Medical Association (AMA) may endorse banning sales and marketing of energy drinks to people under 18 years old. Proposal (Resolution 409) is being introduced by the NYS Medical Society during the AMA annual meeting that is taking place through Wednesday. In the view of Goldman analyst Judy E. Hong, the news is nothing new and the related sell-off "seems overdone."

"The proposal does not seem to contain new information," said Hong. "At this point, the crux of the AMA stance appears to be that there may not be enough information on the subject and more studies need to be done . . . Share price weakness around AMA headlines seems overdone."

Goldman Sachs has a Buy rating on Monster Beverage with a price target of $62.00.

For an analyst ratings summary and ratings history on Monster Beverage (NASDAQ: MNST) click here. For more ratings news on Monster Beverage click here.

Shares of Monster Beverage closed at $59.26 yesterday.

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