Argus raised the firm’s price target on Monster Beverage (MNST) to $95 from $90 and keeps a Buy rating on the shares. The firm contends that the company will be able to grow both its domestic and international revenue as Monster has an impressive history of expansion, with five-year compound annual sales and EPS growth rates of 13%-15%, the analyst tells investors in a research note. Monster’s balance sheet is clean, and while its valuations are on the rich side, the stock merits a premium given the company’s product launches and enhancements, the firm added.
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