Rothschild & Co Redburn analyst Charlie Higgs upgraded Monster Beverage (MNST) to Buy from Neutral with a price target of $90, up from $76. The company is well positioned to capitalize on the rising demand for caffeine, “underpinned by the powerful Coca-Cola distribution system,” the analyst tells investors in a research note. The firm says rising demand for caffeine will drive 8% retail sales growth annually for the global energy drinks category to 2030, with a broadening consumer base, particularly among women and the younger generation. “Capturing this growth requires a wide portfolio across price points, flavors and functional benefits,” contends Rothschild.
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