Monster Jumps as Goldman Sachs Raises Price Target

The stock market is trending lower once again on Monday, but a number of stock are benefiting from positive analyst commentary and are bucking the trend. Among them is Monster Beverage Corp.

. Analysts at Goldman Sachs raised their price target on the stock from $77.00 to $82.00 and said that the rally in the name is likely to continue. The firm also raised its EPS estimates in 2013 by 3.7% and its 2014 estimates by 7.6%. The said that the US sales growth story at the company remains intact and that the stock could benefit from a ramp-up in international profit and cash deployment through buybacks or even the institution of a dividend. On the session, MNST shares were last trading up 1.16% to $71.39.