Monster Beverage Downgraded To Neutral From Conviction Buy At Goldman Sachs

Image result for Monster Beverage mnst

Goldman Sachs analyst Judy Hong downgraded Monster Beverage (MNST) to Neutral from Buy and removed the shares from her firm's Americas Conviction List. She also lowered her price target for the stock to $59 from $67. Monster closed yesterday down 4%, or $2.68, to $57.92.

The company's U.S. sales could remain softer than expected in the near term, driving downward estimate revisions, Hong tells investors in a research note. Recent Nielsen data points to a "sizable slowing" in Monster's sales growth, says the analyst.

She thinks heightened competition from Red Bull and continued growth from Bang are beginning to have a more sizable market share and sales impact on the company. 

 

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.