TD Cowen raised the firm’s price target on Monster Beverage (MNST) to $55 from $50 and keeps a Hold rating on the shares. The firm said they reported a 3Q beat on FX-neutral sales growth beat but missed on EPS. While management struck an upbeat tone on energy drink category recovery, preliminary commentary on October sales growth was underwhelming.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MNST:
- Monster Beverage price target raised to $59 from $57 at Stifel
- Monster Beverage price target lowered to $59 from $61 at Deutsche Bank
- Monster Beverage price target raised to $57 from $55 at UBS
- Monster Beverage Sees Record Sales but Profit Challenges in Q3 2024
- Monster Beverage Reports Mixed Q3 2024 Financial Results