Monster Beverage price target raised to $66 from $57 at BofA

BofA raised the firm’s price target on Monster Beverage (MNST) to $66 from $57 and keeps a Buy rating on the shares. The firm raised its Q1 sales estimate by about 50 basis points to $1.95B as it now assumes 9 points of organic sales growth, up from 8% previously, mostly on higher North American sale, partially offset by slightly lower organic sales in the EMEA region. The firm maintains its Q1 and FY25 EPS estimates of 47c and $1.91 respectively, but reiterates its belief that EPS for the year is relatively insulated from downward revision.