Monster Beverage price target lowered to $54 from $56 at BMO Capital

BMO Capital analyst Andrew Strelzik lowered the firm’s price target on Monster Beverage to $54 from $56 and keeps a Market Perform rating on the shares after its Q2 earnings miss. Softer sales and higher operating expenses more than offset the company’s slight gross margin upside, the analyst tells investors in a research note. Despite U.S. price increase coming in November, visibility to stronger growth is limited and likely reliant on improving consumer environment, the firm added.