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Fly News Breaks for January 12, 2016
KO, MNST
Jan 12, 2016 | 09:47 EDT
Monster Beverage (MNST) has an investor meeting scheduled for after the close today and Evercore ISI analyst Robert Ottenstein said he hopes that the company will provide an update on when they expect to enter the Chinese market, which he believes should be possible given the company's arrangements with Coca-Cola (KO). The analyst noted that he has found sales of Monster on the Chinese e-commerce website Taobao and his findings related to those sales anecdotally support the view that Monster will appeal to Chinese buyers. Ottenstein has a Buy rating and $165 price target on Monster shares.
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