Monster Scaring Jefferies at these Levels

On the back of the news last week of a Coca Cola

taking a 16.7% stake in Monster Beverage

, Jefferies downgraded the shares this morning from Buy to Hold with a price target of 95.00. Shares of MNST had risen 32% last week to 93.49 on news of the deal. On June 10, Jefferies had initiated MNST with a Buy rating and a price target of 82. In pre-market trading, MNST is lower by nearly 2 percent at 91.48