Monster Beverage (MNST – Research Report), the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Christopher Carey from Wells Fargo maintained a Buy rating on the stock and has a $65.00 price target.
Christopher Carey has given his Buy rating due to a combination of factors that suggest Monster Beverage’s strong performance and promising outlook. Despite the company’s results not exceeding all expectations, they were robust in an absolute sense, with double-digit volume growth and gross margins that outperformed predictions. Moreover, the company’s early quarter growth was notably better than anticipated, especially considering sluggish industry trends, with management confirming continued growth in the U.S. market despite less favorable Nielsen data.
Carey’s analysis also highlights the company’s solid growth in international markets and a detailed forecast adjustment for the fiscal year, taking into account various contributing factors to the company’s gross margins. The revised earnings per share estimates for both 2024 and 2025 reflect confidence in Monster Beverage’s margin improvements and share buybacks. The overarching narrative is one of durable growth for Monster Beverage, a rare quality in the current market, which justifies an Overweight rating and paints a positive investment story moving forward.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $65.00 price target.
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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:
- CORRECTION – Monster Beverage Reports 2023 Fourth Quarter and Full-Year Financial Results
- Monster Beverage Reports 2023 Fourth Quarter and Full-Year Financial Results
- MNST Upcoming Earnings Report: What to Expect?
- Monster Beverage to Report Financial Results for 2023 Fourth Quarter on February 28, 2024
- Monster Beverage Corporation’s CANarchy Craft Brewery Collective to Operate as Monster Brewing Company
