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Fly News Breaks for December 21, 2016
KO, MNST
Dec 21, 2016 | 05:41 EDT
Jefferies analyst Kevin Grundy upgraded Monster Beverage (MNST) to Buy and calls the stock his top large cap growth pick in Consumer Products. The analyst highlights Monster's accelerating sales growth in the U.S. and international market share gains. He views the current valuation as attractive and sees strategic optionality should Coca-Cola (KO) acquire the remaining 82% of the shares it does not own. Grundy raised his price target for Monster Beverage shares to $58 from $53.
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