Citi analyst Filippo Falorni keeps a Buy rating on Monster Beverage (MNST) with a $64 price target following Spruce Point Capital Management’s short report. The firm disagrees with Spruce Point’s report, saying U.S. competition is not a new issue and the U.S. energy drink category has clearly accelerated over the past few months. Monster also has solid international growth opportunities, the analyst tells investors in a research note. Citi believes the stock’s valuation is justified by above-peer growth and net cash position.
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