Morgan Stanley analyst Dara Mohsenian raised the firm’s price target on Monster Beverage (MNST) to $70 from $65 and keeps an Overweight rating on the shares. The firm sees sustained higher organic sales growth for Monster than peers, both near term and long term, the analyst tells investors. The firm’s 9% long-term topline growth forecast for Monster is “conservative in our minds, yet above the 7-8% consensus and similar rate that the market is pricing into valuation,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MNST:
- Monster Beverage resumed with a Buy at Stifel
- Monster Beverage: Buy Rating Backed by Strong Short-Term Recovery and Long-Term Growth Potential
- Monster Beverage ‘one of most attractive stories in Staples’, says Goldman Sachs
- Monster Beverage call volume above normal and directionally bullish
- Monster Beverage put volume heavy and directionally bearish