Stifel analyst Mark Astrachan maintains the firm’s "slightly below consensus" Q4 sales and EPS estimates for Monster Beverage, but said in a preview note that they would be buyers on any post-earnings weakness given that for 2023 they continue to estimate Monster could achieve 15% sales growth, compared to consensus’ call for 12% growth. The firm, which also notes U.S. sales have accelerated in scanner data in recent weeks, keeps a Buy rating and $113 price target on Monster shares.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on MNST:
- Monster Beverage price target raised to $114 from $106 at JPMorgan
- Monster Beverage initiated with a Buy at Citi
- Red Bull co-founder’s death could benefit Monster Beverage, says Stifel
- Monster Beverage price target raised to $97 from $95 at BMO Capital
- Monster Beverage price target raised to $115 from $105 at Evercore ISI