In a report published Monday, J.P. Morgan analyst John Faucher upgraded the rating on Monster Beverage Corp. MNST from Neutral to Overweight, and raised the price target from $70.00 to $74.00.
In the report, J.P. Morgan noted, “We are upgrading Monster (MNST) from Neutral to Overweight. Top-line growth should return to double digits, while margin benefits should lead to 40% EPS growth from 2013 to 2015. We think the multiple is at least sustainable at current levels, and EPS growth can cause the stock to outperform our beverage/HPC group.”
Monster Beverage closed on Friday at $59.18.
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