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How Monster Beverage Performed in 3Q17

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Part 5
How Monster Beverage Performed in 3Q17 PART 5 OF 5

Analysts Revised Price Target for Monster after 3Q Results

Analysts’ ratings

As of November 9, Monster Beverage (MNST) was rated a “buy” by 14 out of 18 (or 78%) analysts covering the stock. The stock is rated a “hold” by four analysts. None of the analysts currently has a “sell” recommendation for Monster Beverage stock.

Analysts Revised Price Target for Monster after 3Q Results

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YTD movement

As of November 9, Monster Beverage stock has risen 32.3% on a YTD (year-to-date) basis. It has outperformed its nonalcoholic beverage peers Coca-Cola (KO), PepsiCo (PEP), and Dr Pepper Snapple (DPS). As of November 9, the stocks of Coca-Cola, PepsiCo, and Dr Pepper Snapple have risen 11.5%, 6.5%, and -5.5%, respectively, since the start of 2017.

Monster Beverage has performed better than the S&P 500 Index, which has moved up 15.9% on a YTD basis. Monster Beverage announced its 3Q17 results after the close of financial markets on November 8. The company’s stock rose 1.2% on November 9.

Impact of 3Q17 results

As discussed previously in this series, Monster Beverage beat analysts’ sales estimates and was in line with earnings estimates in 3Q17. Following the company’s 3Q17 results, many analysts revised their price targets for Monster Beverage’s stock. On November 9, Morgan Stanley raised its price target to $63 from $58. Cowen and Company raised its price target to $67 from $58. Wells Fargo raised its price target to $54 from $52. BMO Capital raised its price target to $65 from $58. Suntrust Robinson raised its price target for Monster Beverage stock to $55 from $50. Stifel raised its price target to $61 from $57.

In contrast, Credit Suisse lowered its price target for Monster Beverage stock to $62 from $64. Susquehanna cut its price target to $56 from $60. Jefferies cut its price target to $64 from $65.

As of November 9, the average 12-month price target for Monster Beverage stock was $61.47. This price target reflects an upside potential of 4.8%.

For more updates, be sure to visit Market Realist’s Nonalcoholic Beverages page.

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