UPDATE: Jefferies Raises PT on Hansen Natural to $90

Jefferies is out with its report today on Hansen Natural (NASDAQ: HANS), raising its PT from $85 to $90.

In a note to clients, Jefferies writes, "We remain buyers for 3 reasons: 1) Monster Energy brand winning market share in fastest growing beverage category, 2) we believe Monster is in just 2nd inning of international growth opportunity and 3) valuation does no fully reflect HANS's elite fundamentals - especially as an extremely rare large-cap consumer growth story. Our $90 PT equates to 26x 2012 EPS, which represents a 20% discount to the exclusive large cap consumer growth stock club."

Shares of HANS closed Wednesday at $80.80.