BofA raised the firm’s price target on Monster Beverage (MNST) to $75 from $72 and keeps a Buy rating on the shares. Among the firm’s consumer staples coverage, BofA is “cutting estimates for topline and EPS almost universally” for Q3 with a few exceptions, the analyst tells investors in a preview for the packaged food, beverages, HPC and tobacco groups. Monster is one of the exceptions, the analyst noted.
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