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Monster Beverage Corp (NASDAQ:MNST) was upgraded by Credit Agricole from an “underperform” rating to an “outperform” rating in a research note issued on Friday, reports.

Shares of Monster Beverage Corp (NASDAQ:MNST) opened at 71.65 on Friday. Monster Beverage Corp has a 1-year low of $51.15 and a 1-year high of $75.63. The stock’s 50-day moving average is $67.97 and its 200-day moving average is $69.01. The company has a market cap of $11.978 billion and a price-to-earnings ratio of 30.54.

Monster Beverage Corp (NASDAQ:MNST) last released its earnings data on Thursday, August 7th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that Monster Beverage Corp will post $2.58 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on MNST. Analysts at Zacks reiterated a “neutral” rating on shares of Monster Beverage Corp in a research note on Wednesday. They now have a $74.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Monster Beverage Corp from $74.00 to $80.00 in a research note on Friday, August 8th. Finally, 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, August 8th. They now have a “top pick” rating on the stock. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $80.38.

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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