Jefferies analyst Kevin Grundy raised his FY19-21 EPS estimates for Monster Beverage by about 1% following the company's "strong" Q3 results, adding that he believes the company's report of 8.6% forex-neutral sales growth, or 14.6% adjusted for advance purchases, in October should be "well received." The analyst, who continues to view Monster's valuation as "compelling," keeps a Buy rating on the stock and raised his price target to $70 from $68.

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Truist downgraded Monster Beverage to Sell from Buy with a price target of $46, down from $65.

JPMorgan analyst Andrea Teixeira downgraded Monster Beverage to Neutral from Overweight with a price target of $59, down from $66, ahead of the company's Q1 earnings report on May 8. While the shares have already sold off, there are limited catalysts to the upside at this point as "long-hoped for potential price increases somehow lost their attractiveness" due to the latest run up in aluminum prices and an already-stretched lower income consumer, the analyst tells investors in a research note. Moreover, the firm says Monster's tracked and untracked channel trends are still challenged and it appears that household penetration and buy rates are pressured.