Argus analyst John Staszak raised the firm’s price target on Monster Beverage (MNST) to $65 from $55 and keeps a Buy rating on the shares. The company has an impressive history of expansion, with five-year compound annual sales and EPS growth rates of 13%-15%, and its balance sheet is clean, the analyst tells investors in a research note. Monster’s valuations are on the rich side, but the stock merits a premium given the company’s product launches and enhancements, Argus added.
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