Jefferies ‘more confident’ in Buy rating on Monster Beverage after meeting

Jefferies tells investors that Monster Beverage’s (MNST) analyst meeting left the firm “more confident in our Buy rating,” adding that management’s first attempt at a new innovation playbook is working with Ultra Vice Guava and the firm expects more. The “setup into 2025 is one of the best across our coverage” as sequentially improving trends should drive the multiple higher and a “newly revealed bench allays concerns about succession,” adds the analyst, who reiterates a Buy rating and $64 price target on Monster shares.