Credit Suisse Hikes Monster Beverage Price Target 30%

Monster Beverage Corp MNST gained 14 percent on Friday following a blockbuster earnings report that saw EPS, topline revenue and gross margins ahead of Wall Street consensus. As a result, Credit Suisse hiked its price target to $150 from $115, a 30 percent increase.

Analysts were impressed by Monster Beverage's international sales growth, which gained 16 percent from a year ago. In addition, the analysts noted that the "later timing" of The Coca-Cola Co KO transaction also played into the decision to increase the price target.

Monster Beverage closed Friday at $141.12.