BMO Capital analyst Amit Sharma lowered his price target on Monster Beverage (MNST) to $60 to reflect its selloff yesterday on reported possibility of Coca-Cola (KO) entering the energy drink category. The analyst notes however that while the threat may pose a near-term overhang on the stock, the impact on its growth and valuation is likely overblown. Sharma cites the "deep economic alignment" between the two companies and their bottlers, along with the company's willingness to find an acceptable resolution. The analyst also keeps his Outperform rating on Monster Beverage.

JPMorgan lowered the firm's price target on Coca-Cola to $65 from $66 and keeps an Overweight rating on the shares ahead of the Q1 report. The analyst sees a favorable setup for 2024, but is more cautious on volumes in Q1 versus the Street and is not expecting a guidance raise.