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Fly News Breaks for October 20, 2015
MCD, MNST
Oct 20, 2015 | 09:53 EDT
Evercore ISI analyst Robert Ottenstein said his research indicates that McDonald's (MCD) is testing the sale of Monster Beverage (MNST) products in a few locations, with positive results. The analyst, who believes the U.S. remains a significant growth market for Monster, estimates that Quick Service Restaurant penetration could represent $1B-1.5B of incremental revenue and $1.30-$2.00 of incremental EPS in the U.S. alone for Monster. Ottenstein keeps a Buy rating and $185 price target on shares of Monster, which are up about 4.9% in early trading.
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