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In a report published Monday, Morgan Stanley analyst Dara Mohsenian maintained a rating of Overweight and price target of $65.00 on Monster Beverage (NASDAQ: MNST), seeing the company's recently slow sales as secular in nature.
In the report, Morgan Stanley noted that, "...the recent slowdown has been mainly driven by more difficult comparisons and industry related gas/convenience channel pressure that should reverse going forward...Long term, we believe there is plenty of expansion room for US energy drinks based on our demographic work, and analysis of the current energy drink life cycle vs. historical results from other US beverage segments, as well as vs. energy drinks in Europe."
Monster Beverage closed Friday at $56.91.
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