Monster Beverage (MNST) - Get Report  shares were falling Wednesday after Guggenheim Securities analysts downgraded the stock to neutral from buy, citing competition.

The firm sees the approaching launch of Coca-Cola Energy (KO) - Get Report as a threat to Monster's market share.

Guggenheim cut Monster's price target to $60 a share from $74. The new target indicates a potential 6.3% upside from the stock's Tuesday closing price. 

"The stock will be range-bound for at least the next six to nine months until the market can better gauge the impact," Wednesday's note said.

Guggenheim also said that it was already seeing softness in Great Britain and Germany. 

"Our concern lies more with the in-store execution, especially in convenience, where shelf space is more constrained," Guggenheim said. 

Additionally, Monster will need to spend on advertising.

Monster shares were down 1.75%.