UPDATE: J.P. Morgan Upgrades Monster Beverage as Top-Line and Bottom-Line Momentum Accelerate

In a report published Monday, J.P. Morgan analyst John Faucher upgraded the rating on

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.