Monster Beverage price target raised to $88 from $83 at RBC Capital

RBC Capital raised the firm’s price target on Monster Beverage (MNST) to $88 from $83 and keeps an Outperform rating on the shares ahead of its Q4 results. The stock has performed very well over the past 12 months, creating a higher bar, but the firm expects the company to clear the buy-side hurdle with a strong quarter on the top and bottom line, coupled with a strong January sales number, the analyst tells investors in a research note. Expanding consumers/usage occasions and a robust slate of innovation should further support Monster’s improving market share, the firm adds.