Monster Beverage price target raised to $97 from $95 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the firm’s price target on Monster Beverage to $97 from $95 and keeps a Market Perform rating on the shares after the company hosted an investor meeting at which its management provided an update on growth initiatives. The analyst states that Monster Beverage sounded positive on sales momentum and outlook despite a somewhat softer December and cost dynamics, though he notes that the company is "not out of the woods" on the latter.