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Fly News Breaks for March 30, 2017
MNST
Mar 30, 2017 | 14:21 EDT
Wells Fargo analyst Bonnie Herzog has learned form several industry contacts that Monster Beverage has delayed the launch of enhanced-water energy product Hydro in many markets due to unforeseen production complications. Given the upcoming key summer selling season, Herzog is concerned that Monster's new innovation will not meaningfully impact sales this year, indicating the slowdown in the energy category may persist. The analyst rates Monster Beverage a Market Perform with a $44-$46 valuation range.
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