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Fly News Breaks for July 11, 2018
MNST
Jul 11, 2018 | 20:12 EDT
Stifel analyst Mark Astrachan kept his Buy rating and nudged his price target on Monster Beverage to $65 from $63. The analyst says his "deep dive" analysis into the company's financials and prospects suggests that while near term cost pressures remain, gross margins could expand by 150-200bps in FY19, driven by "anticipated mid-single-digit U.S. price increase" likely coming in Q4 of this year, as well as the moderating input cost pressure offset by negative international and U.S. sales mix.
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