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Fly News Breaks for August 28, 2019
MNST
Aug 28, 2019 | 08:36 EDT
Credit Suisse analyst Kaumil Gajrawala reiterated an Outperform rating and $77 price target for Monster Beverage, and moved the stock to his Top Pick following price depreciation of 15% from July. Despite ongoing distribution gains, Bang's share has flattened at 8% since Reign launched and has even lost share in the most recent period, the analyst highlights. Further, Gajrawala forecasts the Monster business to grow topline 10% and EPS 14% this year, with 3-year CAGRs of 11% and 12%, respectively.
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