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Fly News Breaks for June 11, 2018
MNST
Jun 11, 2018 | 07:57 EDT
Morgan Stanley analyst Dara Mohsenian updated his model for Monster Beverage and increased his price target on the stock to $63 from $61 after the company confirmed at its analyst meeting that a price increase will occur in the U.S. He assumes a 5% price increase, effective October 1, on core energy drink products that make up 73% of Monster's U.S. mix. The analyst, who also lists topline upside, perceived strategic potential, and an attractive valuation as reasons to own Monster, keeps an Overweight rating on the shares.
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