Monster Beverage Corporation MNST CEO Rodney Sacks didn't shy away from positioning his company's new carbonated soda line, Mutant, as a direct competitor to PepsiCo, Inc PEP's Mountain Dew, according to CLSA Americas Research.
Analysts at CLSA detailed comments Sacks made during Monster’s annual shareholder meeting, where he outlined two new product lines: Mutant and Hydro, a flavored/functional water.
Monster thinks Mutant will be able to disrupt Mountain Dew in ways other products like The Coca-Cola Company KO’s Mello Yello haven't been able to, in part due simply to its association with the Monster brand.
The foray into flavored water is also notable, given the phantom of "sugar taxes" still haunting the beverage industry.
CLSA raised their target price on Monster to $185 from $175 after the meeting.
Shares traded at $154.01, up about 0.6 percent on the day.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
