Monster Beverage price target raised to $68 from $63 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Monster Beverage to $68 from $63 and keeps an Overweight rating on the shares. Monster Q4 results and January sales should be “perceived positively,” says the analyst, who sees underlying topline growth remaining “solid” on robust global category growth and strong international share gains. The firm also cites gross margins rebounding sequentially as costs diminish.