UPDATE: Stifel Nicolaus Upgrades Monster Beverage Corporation to Buy on Margins, Cash Flows
Posted on December 11, 2012 at 10:59 AM EST
Stifel Nicolaus raised its rating on Monster Beverage Corporation (NASDAQ: MNST ) from Hold to Buy and established a $65 price target. Stifel Nicolaus said, "We believe shares largely reflect slowing sales growth, due mainly to difficult y/y comparisons, which we anticipate will re-accelerate beginning in 2Q13. We also