Monster Beverage price target raised to $80 from $70 at Roth Capital

Roth Capital analyst Sean McGowan raised the firm’s price target on Monster Beverage (MNST) to $80 from $70 and keeps a Neutral rating on the shares. The company’s Q4 results were a bit mixed, with revenue exceeding estimates, but gross margin pressure and higher operating expenditure offsetting much of the revenue upside, the analyst tells investors in a research note. Revenue growth was particularly strong in international markets, aided by strong category growth market share gains and favorable FX moves, the firm added.