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Fly News Breaks for March 5, 2018
MNST
Mar 5, 2018 | 05:06 EDT
Deutsche Bank analyst Steve Power upgraded Monster Beverage to Buy with an unchanged price target of $63. The selloff since the company's "weak" results on March 1 is an "overly negative reaction," presenting a buying opportunity, Power tells investors in a research note. Monster remains a "compelling growth story in a sector where growth is increasingly scarce," the analyst adds. He believes the shares are likely to rebound on "stable/strong" Nielsen trends and reaccelerating growth as Q1 results are released.
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