Monster Beverage price target raised to $83 from $75 at Wells Fargo

Wells Fargo analyst Chris Carey raised the firm’s price target on Monster Beverage (MNST) to $83 from $75 and keeps an Overweight rating on the shares. The firm says the company struck a bullish tone at its annual meeting in NYC. This should not surprise with the stock pushing highs. It nevertheless underpins the narrative on what has become a unique model across Staples, with catalysts, Wells adds.