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UPDATE: Credit Suisse Initiates Coverage On Monster Beverage

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Credit Suisse Wednesday initiated coverage of Monster Beverage (NASDAQ: MNST) with an Outperform rating and a target price of $82.

Credit Suisse analyst Michael Steib assigned the rating based on what he describes as some of the best top- and bottom-line growth in the CPG sector, thus justifying the stock's high valuation.

Steib cites key growth drivers being an attractive channel mix, leadership in one of the most attractive beverage categories and favorable socioeconomic and demographic trends in the U.S. and international expansion.

Monster Beverage shares closed Tuesday at $66.74.

Latest Ratings for MNST

DateFirmActionFromTo
Mar 2016Bank of AmericaInitiates Coverage onNeutral
Mar 2016Goldman SachsUpgradesBuyConviction Buy
Feb 2016CLSAUpgradesOutperformBuy

View More Analyst Ratings for MNST
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Posted-In: Credit Suisse Michael SteibAnalyst Color Initiation Analyst Ratings

 

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