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Fly News Breaks for March 28, 2019
MNST
Mar 28, 2019 | 07:33 EDT
Morgan Stanley analyst Dara Mohsenian said he does not view the recent 15% pullback in shares of Monster Beverage as a buying opportunity as he expects market share worries in the U.S. to linger given the competitive risk from privately-held Bang and a lack of price increases from Red Bull. Mohsenian lowered his revenue and EBIT estimates for Monster for Q1 and FY19, citing recent U.S. scanner data weakness, and cut his price target for the stock to $56 from $62. He maintains an Equal Weight rating on Monster shares.
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