After Monster reported higher than expected Q1 EPS, Wells Fargo says that the company's results were "much better than feared." The firm says the company has reached a positive turning point, as its U.S. distribution issues have been "largely resolved," and its international operations should continue to improve. The firm thinks that the company's new "Mutant" products could significantly boost its growth ,and it recommends buying the stock.

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.