RBC Capital analyst Nik Modi raised the firm’s price target on Monster Beverage (MNST) to $81 from $75 and keeps an Outperform rating on the shares. The stock is up 42% year-to-date on the back of strong category trends and improving market share momentum, and while its market cap has increased from $40M in 2002 to $73B, the company is “just scratching the surface” on realizing its full potential, the analyst tells investors in a research note. RBC adds that its field work would suggest Monster’s organizational capabilities and relationship with Coca-Cola have dramatically improved, which will unlock future revenue and margin opportunities.
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