BofA raised the firm’s price target on Monster Beverage to $57 from $56 and keeps a Buy rating on the shares. Although the firm notes that it lowered its Q3 sales estimate by 1% to $1.72B to reflect weakness seen in recent scanner data, it also raised its FY25 sales growth estimate to 8% from 6% based on an expected U.S. volume recovery in the second half, continued double-digit topline growth internationally and the Bang contribution.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MNST:
- NACS tradeshow convenience store tone ‘more upbeat,’ says Stifel
- Red Bull’s new flavors gaining share from Celsius, Monster, says Jefferies
- Monster Beverage put volume heavy and directionally bearish
- Monster Beverage Stock’s (MNST) Slow Growth Doesn’t Tell the Whole Story
- Monster Beverage announces new $500M share repurchase program