Monster Beverage price target raised to $62 from $57 at UBS

UBS analyst Peter Grom raised the firm’s price target on Monster Beverage to $62 from $57 and keeps a Neutral rating on the shares. Monster is scheduled to host their annual Investor Meeting in NYC next on January 16 after the close, and while the event has not been a major catalyst historically, next week could prove to be different, the analyst says in a research note. The bull narrative could be fueled if investors walk away with comfort that additional pricing is on the horizon and/or that Bang can turn around under Monster’s leadership, UBS says.