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Fly News Breaks for May 9, 2018
MNST
May 9, 2018 | 08:36 EDT
Stifel analyst Mark Astrachan lowered his price target on Monster Beverage shares to $63 from $71 after the company reported mixed Q1 results, noting that he expects heightened costs to be sustained through at least Q3, when the company starts lapping inflation and is likely to seek a price increase. Astrachan maintains a Buy rating on the shares, as he believes Monster's sales growth can remain at about 10% through 2019 given his view of strong end-demand.
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