Citigroup analyst Wendy Nicholson maintained a Buy rating on Monster Beverage Corp (NASDAQ: MNST) today and set a price target of $71. The company’s shares opened today at $60.58.
According to TipRanks.com, Nicholson is a 3-star analyst with an average return of 2.3% and a 62.3% success rate. Nicholson covers the Consumer Goods sector, focusing on stocks such as elf Beauty Inc, Coca-Cola, and Coty Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Monster Beverage Corp with a $66.44 average price target, a 9.7% upside from current levels. In a report released yesterday, Jefferies also assigned a Buy rating to the stock with a $71 price target.
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Based on Monster Beverage Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $270 million. In comparison, last year the company had a net profit of $223 million.
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Monster Beverage Corp. is a holding company which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Finished Products, Concentrate, and Other. The Finished Products segment consists of the Monster Energy drink products.
