JPMorgan lowered the firm’s price target on Monster Beverage to $57 from $65 and keeps an Overweight rating on the shares ahead of the Q3 report on November 2. The analyst thinks investors will need to see indications on faster margin recovery and/or resilient sales growth and strong resumption of share repurchases to serve as a “trigger” ahead of the company’s annual January investor day. The firm says Monster shares have :already de-rated for the most part.”
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