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Monster Beverage price target raised to $63 from $62 at UBS

UBS raised the firm’s price target on Monster Beverage (MNST) to $63 from $62 and keeps a Neutral rating on the shares. Monster Beverage had a “tough” Q1 that is being offset by “strong” Q2 momentum, the analyst tells investors in a research note. The firm expects sentiment to remain constructive, especially given the underlying momentum from here, but thinks optimism is already priced in.

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