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UPDATE: Morgan Stanley Reiterates On Monster Beverage Following Strong Q4 Results

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In a report published Monday, Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on Monster Beverage (NASDAQ: MNST), and raised the price target from $78.00 to $85.00.

In the report, Morgan Stanley noted, “At Monster, stronger than expected Q4 topline results were clearly favorable, with a US rebound already evident (and priced into the stock) after recent scanner data strength. However, we were more encouraged by 21% Q4 international sales growth, which was 3% ahead of our above consensus forecast, but also well ahead of 4% Q2/Q3 growth. In addition, 26% two-yr average Q4 international organic sales growth was ahead of the 23% average in Q2/Q3.

"While Q2/Q3 results were hurt by inventory de-loads/FX, we estimate international retail sales were up mid-20's (see Exhibit 1 below) from Q1-Q3 using scanner data/Monster analyst meeting detail weighted by our country mix estimates, which is further confirmed by rebounding shipments in Q4.”

Monster Beverage Corp. closed on Friday at $74.00.

Latest Ratings for MNST

DateFirmActionFromTo
Dec 2014CLSAUpgradesOutperformBuy
Dec 2014RBC CapitalDowngradesTop PickOutperform
Nov 2014Longbow ResearchAssumesNeutral

View More Analyst Ratings for MNST
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Posted-In: Dara Mohsenian Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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