Monster Beverage price target raised to $60 from $55 at Wells Fargo

Wells Fargo raised the firm’s price target on Monster Beverage to $60 from $55 and keeps an Overweight rating on the shares. Monster has momentum in the U.S. and International, still has significant margin recovery potential ahead, now is deploying cash to generate interest income, and Wells Fargo sees upside to estimates as Monster delivers against its dual-pronged sales growth and margin improvement story, the analyst tells investors in a research note.