Cowen & Co. Reiterates Their Buy Rating on Monster Beverage Corp (MNST)


Cowen & Co. analyst Vivien Azer reiterated a Buy rating on Monster Beverage Corp (NASDAQ: MNST) yesterday and set a price target of $68. The company’s shares closed yesterday at $60.98.

According to TipRanks.com, Azer is a 5-star analyst with an average return of 26.1% and a 70.7% success rate. Azer covers the Consumer Goods sector, focusing on stocks such as Constellation Brands Inc, Keurig Dr Pepper Inc, and Turning Point Brands.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Monster Beverage Corp with a $65.88 average price target, which is an 8.0% 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.

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