Monster Beverage price target raised to $57 from $55 at Roth MKM

Roth MKM analyst Sean McGowan raised the firm’s price target on Monster Beverage to $57 from $55 and keeps a Neutral rating on the shares. The company’s Q2 results were a bit lower than expected in sales, gross margin and operating income but the addition of Bang and the expansion of the alcohol lines will help fuel growth, the analyst tells investors in a research note. The firm adds however that the current stock price likely captures this upside opportunity.