Roth MKM analyst Sean McGowan lowered the firm’s price target on Monster Beverage to $55 from $57 and keeps a Neutral rating on the shares. Monster Beverage’s Q3 revenue, gross margin, operating income and adjusted EBITDA were a bit short of the firm’s estimates, the analyst tells investors in a research note. While growth has been respectable and cash flow remains extremely strong, the shares are fairly valued, and Roth MKM does not expect the stock to outperform until results consistently exceed expectations.
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