Monster Beverage price target lowered to $63 from $65 at Stifel

Stifel lowered the firm’s price target on Monster Beverage to $63 from $65 and keeps a Buy rating on the shares. The firm reduced its 2024-2025 sales and EPS estimates “slightly,” mainly reflecting weakening U.S. sales growth, but said it remains comfortable with its above-consensus Q1 sales expectations and thinks “a less-bad-than-feared result,” including a solid month of April sales, could potentially be a positive catalyst for shares given weak investor sentiment.