Monster Beverage price target lowered to $46 from $59 at Piper Sandler

Piper Sandler lowered the firm’s price target on Monster Beverage to $46 from $59 and keeps a Neutral rating on the shares. The firm notes Monster is taking 5% pricing in Q4 2024 on its Monster brand, its first price hike in roughly two years, even though the U.S. consumer is stretched and seems to have pricing fatigue. U.S. energy category momentum has slowed, and the duration of the slowdown remains unclear, Piper adds.