On August 18, Monster Beverage rose 3.14% in regular trading, trading at $46.72/share, with turnover of $68.64 million.
On the news front, HSBC raised its price target on Monster Beverage from $50 to $52, maintaining a Buy rating. The FactSet consensus average target price stands at $51.05, implying meaningful upside from current levels. The upgrade comes on the heels of the company's strong Q2 results reported on August 6, in which adjusted EPS of $0.60 beat the $0.58 consensus estimate and revenue of $2.54 billion exceeded the $2.43 billion expectation.
The broader soft drinks sector also provided a tailwind, with Coca-Cola up 1.72%, Pepsi up 1.35%, Keurig Dr Pepper up 1.49%, and Coca-Cola Europacific up 1.88%, reflecting broad-based sector strength that amplified the positive sentiment around Monster Beverage.
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