UPDATE: Stifel Nicolaus Upgrades Monster Beverage Corporation to Buy on Margins, Cash Flows
Stifel Nicolaus raised its rating on Monster Beverage Corporation (NASDAQ: MNST) from Hold to Buy and established a $65 price target.
Stifel Nicolaus said, "We believe shares largely reflect slowing sales growth, due mainly to difficult y/y comparisons, which we anticipate will re-accelerate beginning in 2Q13. We also think regulatory concerns are overstated. A premium multiple is warranted, in our view, given Monster is a unique, high-margin business with strong free cash flow generation and sustainable low double-digit sales growth over the next 3-5 years driven by continued U.S. share gains, innovation, and international expansion."
Monster Beverage Corporation closed at $52.84 on Monday.
Latest Ratings for MNST
|Aug 2015||Morgan Stanley||Upgrades||Equal-weight||Overweight|
|Aug 2015||BMO Capital||Maintains||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.