Monster Beverage (MNST) PT Lowered to $61 at Jefferies
Get Alerts MNST Hot Sheet
Rating Summary:
21 Buy, 13 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 1
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Jefferies analyst Kaumil Gajrawala lowered the price target on Monster Beverage (NASDAQ: MNST) to $61.00 (from $68.00) while maintaining a Buy rating.
The analyst comments "The slowdown across beverages and soft Memorial Day trends warrants a reset. We lower our '24 growth forecast by -55bp to +10.7%, with US only growing +5.4%...the slowest in a decade. Not great, but not terminal. It's more likely than not we are in an air pocket. Meanwhile, incremental rollouts like Bang & Reign should boost growth. For MNST shares, we remind investors Monster has historically timed its share repos very well (and they just bought a lot)."
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