Monster’s upcoming meeting a key positive catalyst, says Goldman Sachs

Goldman Sachs reiterates a Buy rating and $62 price target on Monster Beverage shares ahead of the company’s upcoming investor meeting in New York City on January 16, which the firm calls a “key” positive catalyst for the stock. The firm expects management to deliver a “compelling presentation,” highlighting the health of the underlying energy drink category and strength of its innovation pipeline. In addition, the firm thinks there is “a good chance” that management announces a price increase in the U.S., “or at the very least suggests a price increase could be around the corner,” the analyst tells investors.