UPDATE: Goldman Sachs Raises PT on Monster Beverage to $82

According to a research report this morning, Goldman Sachs raises its PT on Monster Beverage

from $77 to $82 following an outperform in share price. Goldman Sachs explains, “We reiterate our CL-Buy and raise our 12-month price target by $5 to $82 as we see two key drivers of further share price outperformance. First, we raise our EPS estimates by 3.7%/7.6% in 2013/2014 to better reflect a ramp-up in International profitability after conducting a fresh analysis on International margin potential. Second, we see an increasing likelihood of a sizable and accelerated share repurchase program that would enable MNST to better deploy its $800mm in net cash.” Monster Beverage closed Friday at $70.54.