UPDATE: UBS Downgrades Monster Beverage
In a report released Monday, UBS analyst Stephen Powers downgraded Monster Beverage (NASDAQ: MNST) from Buy to Neutral and decreased its price target from $73 to $80.
Analysts at UBS downgraded Monster ahead of its Q2 2014 earnings due to top-line trends and valuation already pricing in any potential upside. UBS noted international growth reduction in April, but the beverage producer is still projected upside in marginal expansion and international profit margins.
The $80 price target is given by a one to two-year EPS estimate multiple of 23.5x, or $3.11.
Latest Ratings for MNST
|Sep 2016||Credit Suisse||Initiates Coverage on||Outperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.