Monster Beverage best-positioned to acquire Bang, says Stifel

Stifel analyst Mark Astrachan adjusted the firm’s price target on Monster Beverage to $61 from $113 to reflect updated estimates and the 2-for-1 stock split completed on March 28 and keeps a Buy rating on the shares. The firm notes that Bang, which filed for bankruptcy in October 2022, plans to sell the business according to court documents and says it views Monster as best-positioned to acquire Bang given it is the largest creditor in bankruptcy and co-rights holder to a 5% perpetual royalty/license for use of the Bang beverage trademark. The firm, which notes that it has "no knowledge of discussions," thinks Monster acquiring Bang would be modestly accretive to EPS, additive to its retail shelf-space and provide some U.S. manufacturing optionality.