Wedbush Maintains Neutral Rating for Monster Beverage: Here's What You Need To Know

Wedbush has decided to maintain its Neutral rating of Monster Beverage MNST and lower its price target from $103.00 to $52.00.

Shares of Monster Beverage are trading down 0.08% over the last 24 hours, at $52.11 per share.

A move to $52.00 would account for a 0.21% decrease from the current share price.

About Monster Beverage

Monster Beverage is a leader in the energy drink subsegment of the beverage industry. The Monster trademark anchors the portfolio, and notable offerings include Monster Energy and Monster Ultra. The firm has also started to incubate new trademarks for emerging enclaves of the energy space, like Reign in performance energy. It is primarily a brand owner, outsourcing most of its manufacturing to third-party copackers. It primarily uses the Coca-Cola bottling system for distribution after a strategic agreement through which Coke became Monster's largest shareholder (nearly 20%). Most of Monster's revenue is generated in the United States.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.