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Fly News Breaks for September 20, 2019
Sep 20, 2019 | 09:24 EDT
Stifel analyst Mark Astrachan said he views his Q3 U.S. sales estimate of 5.7% year-over-year growth for Monster Beverage as "reasonable-to-conservative" and he thinks the stock's current valuation discount to peers presents an attractive risk/reward. Scanner data points to broadly stronger sequential growth in Q3 than Q2, said Astrachan, who anticipates similar growth in Q4. He keeps a Buy rating and $71 price target on Monster Beverage shares