Monster Beverage price target raised to $65 from $63 at Stifel

Stifel analyst Mark Astrachan raised the firm’s price target on Monster Beverage to $65 from $63 and keeps a Buy rating on the shares. The firm, which remains “comfortable” with its slightly below consensus sales expectations and above-consensus EPS estimate for Q2, “slightly” lifted its second half sales estimates to reflect ongoing solid U.S. scanner data and its expectations for continued strong international growth, the analyst tells investors in an earnings preview note.