RBC Capital Expects 'Strong' Print from Monster Beverage (MNST)

RBC Capital analyst Nik Modi reiterated an Outperform rating and $63.00 price target on Monster Beverage (NASDAQ: MNST).

The analyst commented: "MNST’s shares have rallied, and the overall thesis remains on track in our view. We are expecting solid topline results building on category recovery with resilient US trends. MNST’s innovation (Blue Hawaiian & Ultra Vice Guava) have been performing exceptionally well and category pricing is sticking and contributing meaningfully to the topline which is a positive in the context of a weaker consumer environment. We also expect solid April sales +MSD-HSD%. While shares have performed well, we still believe MNST’s print will look strong in the context of what we expect to be a difficult earnings season."

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 $60.02 yesterday.

You May Also Be Interested In

• CFRA Starts SpaceX (SPCX) at Sell, 'Our primary concern is that SpaceX’s long-term strategy remains heavily dependent on Starship'
• 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
• UBS Reiterates Neutral Rating on Lennar (LEN) Following Q2 Results