Goldman Sachs analyst Bonnie Herzog has reiterated their bullish stance on MNST stock, giving a Buy rating on January 10.
Bonnie Herzog’s Buy rating on Monster Beverage Corp. (MNST) is rooted in the anticipated positive impact of the upcoming Investor Meeting. This event, especially significant as management will be engaging in person for the first time in years, is expected to serve as a strong positive catalyst for the stock. Herzog anticipates that management will provide an effective presentation that will underscore the robustness of Monster Beverage’s innovation pipeline and the overall health of the energy drink sector, which is experiencing high single-digit growth.
Moreover, Herzog posits that there’s a substantial likelihood that management might announce or hint at an upcoming price increase in the U.S. market. The accumulation of these factors, coupled with the belief that the company’s growth drivers are currently undervalued by the market, reinforces Monster Beverage as a top stock pick in Herzog’s view. This optimistic outlook is underpinned by the strength of the brand and its market position within the growing energy drink category.
Herzog covers the Consumer Defensive sector, focusing on stocks such as Constellation Brands, Coca-Cola, and Monster Beverage. According to TipRanks, Herzog has an average return of 3.2% and a 55.60% success rate on recommended stocks.
In another report released on January 10, Wells Fargo also maintained a Buy rating on the stock with a $65.00 price target.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Monster Beverage (MNST) Company Description:
California-based Monster Beverage Corp. develops, markets, sells and distributes energy drink beverages and concentrates including Monster Energy, Relentless and Burn in the United States and internationally. It operates through the following segments: Monster Energy Drinks, Strategic Brands and Other.
Read More on MNST:
- Monster Beverage price target raised to $62 from $57 at UBS
- Monster Beverage Announces Webcast Details for Investor Meeting/Business Update January 16, 2024
- Monster Beverage put volume heavy and directionally bearish
- KO, KDP, CELH See a Jump in Soda Sales
- Monster Beverage price target raised to $58 from $50 at Piper Sandler
