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Fly News Breaks for September 30, 2019
Sep 30, 2019 | 09:15 EDT
RBC Capital analyst Nik Modi keeps his Outperform rating and $75 price target on Monster Beverage, saying that in spite of its tripling in value over the past 6 years, the buy case on the stock is still "emerging". The analyst notes that the pillars supporting his bullish thesis remain unchanged, namely the 6% growth in U.S. markets from its current portfolio, the 25%-30% expected growth overseas, and the upside from its China business and new brand expansion into non-energy drink categories.
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