MNST - Monster Beverage is 'top pick' in staples at AllianceBernstein

Monster Beverage Corporation (NASDAQ:MNST) has gained a new bull on Wall Street after an upgrade from AllianceBernstein.  Callum Elliott, the analyst covering the stock for the New York-based investment management and research firm, offered a mea culpa of sorts in a new note. He noted that while he had been skeptical of the stock’s trajectory to start 2022 in assigning a “Hold” rating, rapid performance improvement in the spring has changed his tune. “[Monster Beverage Corporation] (MNST) is a great business; essentially a capital light, branding company, with incredible brand equity that supports super-premium price points and elevated profitability as a result,” Elliott wrote in his upgrade. “We estimate that MNST generates 50%+ incremental ROIC, unparalleled in the CPG space.” He upgraded shares from “Market Perform”, a “Hold” equivalent, to “Outperform” and raised his price target from $97 to $110.  “[Monster Beverage Corporation] (MNST) is our new top pick across

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Monster Beverage is ‘top pick’ in staples at AllianceBernstein