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Monster Beverage price target raised to $65 from $60 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Monster Beverage (MNST) to $65 from $60 and keeps an Overweight rating on the shares. Year-to-date revenue results through April were “solid, albeit slightly below consensus,” the analyst tells investors. However, the “key point” from the Q1 report and call was Monster’s “enthusiasm” and scanner data comments on the call confirming consumer takeaway is rebounding, with strong organic sale growth in a challenged consumer packed goods group, the analyst tells investors.

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