Roth/MKM Comments on Monster Beverage (MNST)
Roth/MKM analyst Sean McGowan reiterated a Neutral rating and $59.00 price target on Monster Beverage (NASDAQ: MNST).
The analyst comments "MNST's 1Q results showed solid revenue growth and improvement in gross margin and adjusted EBITDA. Yet, these results lagged consensus estimates, and the marked slowdown in growth in core energy drink volume in several markets is likely, in our view, to weigh on investor sentiment. The announcement of a Dutch auction for up to $3.0B is likely to support the shares in the near term. We remain Neutral, but see limited downside."
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 $53.39 yesterday.