Monster Beverage Corp PT Raised to $80.00 at JPMorgan Chase & Co. (MNST)
Analysts at JPMorgan Chase & Co. increased their price target on shares of Monster Beverage Corp (NASDAQ:MNST) from $74.00 to $80.00 in a research report issued to clients and investors on Friday. JPMorgan Chase & Co.’s target price would suggest a potential upside of 15.19% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Monster Beverage Corp from $81.00 to $84.00 in a research note on Friday. They now have a “top pick” rating on the stock. Separately, analysts at Longbow Research upgraded shares of Monster Beverage Corp from an “underperform” rating to a “neutral” rating in a research note on Friday. They now have a $57.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of Monster Beverage Corp from an “outperform” rating to an “underperform” rating in a research note on Wednesday. They now have a $70.00 price target on the stock, down previously from $86.00. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Monster Beverage Corp presently has a consensus rating of “Buy” and an average price target of $75.89.
Monster Beverage Corp (NASDAQ:MNST) traded up 6.68% during mid-day trading on Friday, hitting $69.45. 3,240,312 shares of the company’s stock traded hands. Monster Beverage Corp has a 52 week low of $51.15 and a 52 week high of $75.63. The stock’s 50-day moving average is $68.22 and its 200-day moving average is $68.96. The company has a market cap of $11.603 billion and a P/E ratio of 30.58.
Monster Beverage Corp (NASDAQ:MNST) last announced its earnings results on Thursday, August 7th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.06. The company had revenue of $687.20 million for the quarter, compared to the consensus estimate of $694.22 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that Monster Beverage Corp will post $2.50 EPS for the current fiscal year.
Monster Beverage Corporation is a holding company. The Company develops, markets, sells and distributes alternative beverage, such as non-carbonated ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks, and single-serve still water (NASDAQ:MNST) with beverages, including sodas that are considered natural, sparkling juices and flavored sparkling beverages.
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