Monster Beverage price target raised to $58 from $50 at Piper Sandler

Piper Sandler raised the firm’s price target on Monster Beverage to $58 from $50 and keeps a Neutral rating on the shares. The firm notes that in U.S. measured retail sales through November 5, Monster had broad deceleration across its portfolio, though management commentary points to strength in international and unmeasured channels, though Piper’s Fall 2023 teen survey also suggests potential long-term share pressure in the U.S., as Monster under-indexes with teens.