As previously reported, Morgan Stanley upgraded Monster Beverage to Overweight from Equal Weight. The firm said shares have pulled back 10% from recent highs on weaker than expected Q2 results and lack of an announced share buyback following the Coca-Cola deal. Morgan Stanley expects Monster to eventually pursue buybacks, potentially in Q4, and said the top line miss from lower Coca-Cola system inventory and US out of stocks, should now be resolved. The firm would use the recent weakness as a buying opportunity and maintains estimates above consensus.