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UPDATE: Goldman Sachs Reiterates Buy Rating, Lowers PT on Monster Beverage Corporation

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In a report published Monday, Goldman Sachs Group reiterated its Buy rating on Monster Beverage Corporation (NASDAQ: MNST), but lowered its price target from $79.00 to $75.00.

Goldman Sachs noted, “MNST shares have remained under pressure on regulatory fears and concern over sales deceleration, which has driven its multiple down to 23-24X NTM P/E from the peak of 34X. While trading could be choppy in the very near term, we remain CL-Buy and still see nearly 40% upside potential over the next 12 months as: (1) upcoming c-store data could mark the trough for MNST's US sales growth; (2) we see the potential for sentiment to improve on new product news and reassuring 3Q12 earnings; and (3) at this stage we are less convinced of an onerous regulatory outcome.”

Monster Beverage Corporation closed on Friday at $53.77.

Latest Ratings for MNST

DateFirmActionFromTo
Nov 2014Longbow ResearchAssumesNeutral
Nov 2014Stifel NicolausMaintainsBuy
Nov 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for MNST
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Price Target Analyst Ratings

 

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