Stifel analyst Mark Astrachan raised the firm’s price target on Monster Beverage (MNST) to $59 from $57 and keeps a Buy rating on the shares after the company reported Q3 sales and EBIT below consensus. Management cited recently improving trends in U.S. scanner data, which the firm thinks suggest energy drinks category trends are beginning to improve. While it continues to anticipate accelerating Monster sales trends through 2025 based on comparisons, pricing, and innovation, the firm notes it reduced 2024-2025 estimates “slightly” following the quarterly report.
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