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Fly News Breaks for February 3, 2020
Feb 3, 2020 | 07:25 EDT
Morgan Stanley analyst Dara Mohsenian upgraded Monster Beverage to Overweight from Equal Weight with a price target of $78, up from $70. In a research note to investors, Mohsenian says he sees a pending U.S. topline growth acceleration to ~5% in 2020 and ~6% longer-term, continued strong topline growth in international markets, potential for gross margin expansion to return in 2020 and the stock at a compelling valuation. While Mohsenian says that after being bulls on Monster for nearly 15 years and the firm's 2018 downgrade around concerns about a U.S. topline deceleration with an increased competitive environment in the U.S. energy drink category, the analyst says his prior concerns have largely played out.
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