Monster Beverage likely to raise prices after Red Bull, says RBC Capital

RBC Capital tells investors in a research note that the firm’s channel work confirms that Red Bull will increase prices in November mid-single digits on 12 oz. cans and high-single digits on 8 oz. cans. The firm says this is a positive read-through for Monster Beverage, which is likely to follow. RBC Capital made no change to the firm’s Ootperform rating or $60 price target on Monster Beverage.