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Fly News Breaks for June 5, 2018
MNST
Jun 5, 2018 | 08:28 EDT
Evercore ISI analyst Robert Ottenstein says Monster Beverage is now his top pick for the next 12 months. Although Monster Energy was first introduced in the U.S. 16 years ago, the company acts like a startup, generating 7%-8% growth in the U.S., which still accounts for over 70% of sales, and about 20% growth overseas, he contends, adding that the company is gaining category share in most markets globally and has several decades of superior growth potential ahead of it. Ottenstein reiterates an Outperform rating and $65 price target on the shares.
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