In a report released today, Kevin Grundy from Jefferies reiterated a Buy rating on Monster Beverage Corp (MNST), with a price target of $65. The company’s shares closed yesterday at $54.55.
Grundy commented:
“We lower and our PT to $65 to reflect risk factors (Bang, Red Bull pricing, Coke Energy), which should weigh on MNST’s US results. Our Spring ’19 US consumer survey suggests runway for Bang, interest in Coke Energy, and flattening category penetration rates; however, US slowdown appears priced-in, ’19 innovation is being rolled-out, intl. biz remains healthy, strategic potential still viable, and shares over- sold at 26x EV/ULFCF – Reiterate Buy.”
According to TipRanks.com, Grundy is a 4-star analyst with an average return of 4.8% and a 59.5% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, Interlink Electronics, Inc., and Constellation Brands Inc.
Monster Beverage Corp has an analyst consensus of Moderate Buy, with a price target consensus of $66.69, which is a 22.3% upside from current levels. In a report issued on March 11, Stifel Nicolaus also maintained a Buy rating on the stock with a $67 price target.
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Monster Beverage Corp’s market cap is currently $29.66B and has a P/E ratio of 30.82. The company has a Price to Book ratio of 8.21.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Thomas J. Kelly, the EVP Finance Monster Energy Co. of MNST sold 25,719 shares for a total of $1,534,910.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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: Monster Energy Drinks, Strategic Brands and Other.
