UPDATE: Stifel Reiterates Buy Rating, Raises PT on Monster Beverage Corp. Following 3Q14 Results - Monster Beverage (NASDAQ:MNST)

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In a report published Friday, Stifel analyst Mark Astrachan reiterated a Buy rating on

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Monster Beverage Corp.

(NASDAQ: MNST), and raised the price target from $110.00 to $115.00.In the report, Stifel noted, “Monster Beverage Corp. reported 3Q14 results with EPS of $0.70, compared to consensus of $0.66. Net revenue growth of 7.7% y/y compared to consensus of 8.7% and our 8.3% estimate. The beat was driven by gross margin expansion of 170bps y/y and SG&A expense leverage. October gross sales, given on the earnings call, increased 9.2%.”Monster Beverage Corp. closed on Thursday at $100.48.