UBS said Monster Beverage has become its top pick and would buy the shares on any weakness related to its Q4 results. The firm noted Q4 results were disappointing and that the first half is expected to be choppy, but share repurchases, international growth and preliminary approval to sell in China are reasons to look past the headwinds. UBS reiterated its Buy rating and lowered its price target to $165 from $175 on Monster Beverage shares.

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Truist downgraded Monster Beverage to Sell from Buy with a price target of $46, down from $65.

JPMorgan analyst Andrea Teixeira downgraded Monster Beverage to Neutral from Overweight with a price target of $59, down from $66, ahead of the company's Q1 earnings report on May 8. While the shares have already sold off, there are limited catalysts to the upside at this point as "long-hoped for potential price increases somehow lost their attractiveness" due to the latest run up in aluminum prices and an already-stretched lower income consumer, the analyst tells investors in a research note. Moreover, the firm says Monster's tracked and untracked channel trends are still challenged and it appears that household penetration and buy rates are pressured.