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Fly News Breaks for April 11, 2019
MNST
Apr 11, 2019 | 07:16 EDT
Citi analyst Wendy Nicholson says that while Monster Beverage is down almost 16% from its high on March 4 due to concerns about heightened competition in the U.S., she continues to believe the company will remain one of the fastest growth companies she covers over the medium and longer term. The global energy drink category continues to grow and Monster continues to gain share globally, Nicholson tells investors in a research note. The analyst lowered her price target for the shares to $66 from $74 and keeps a Buy rating on the name.
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