Monster Beverage price target raised to $120 from $118 at Argus

Argus analyst John Staszak raised the firm’s price target on Monster Beverage (MNST) to $120 from $118 and keeps a Buy rating on the shares. The stock remains attractive despite the investor concerns about rising input costs and higher freight rates, the analyst tells investors in a research note. The firm further cites Monster’s "impressive" history of growth, with five-year compound annual sales and EPS growth rates in the 13%-15% range, adding that the company should also benefit from a transformative transaction with Coca-Cola Corp (KO).