Monster Beverage initiated with a Hold at Needham

Needham initiated coverage of Monster Beverage (MNST) with a Hold rating and no price target While stating that there is “a lot to like” about the story, including the recent reacceleration in category growth along with an improvement in magnitude of Monster’s share losses ahead of a price increase that rolled out on November 1 and could provide further benefits to sales and margins, the firm is still cautious on the long-term sustainability of a U.S. recovery. With shares trading over a turn above the one-year average, the firm believes the stock is fairly valued, the analyst tells investors.