NEW YORK (TheStreet) -- How do you make a monster even stronger? By giving it a monster beverage distribution deal. That's why shares of Monster Beverage (MNST) - Get Report are up Thursday when the stocks making up the tracking S&P 500 ETF (SPY) - Get Report  are struggling. 

The last few quarters have been confusing for investors as Monster makes its way into Coca-Cola's (KO) - Get Reportbeverage distribution network, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment. After initially taking away from Monster's market share, the distribution arrangement will ultimately help the company gain that share back, said Cramer, the co-manager of the Action Alerts PLUS portfolio

This is a remarkable company and management is making many right moves, he added.

Monster Beverage MNST data by YCharts

Image placeholder title

Cramer noted a Goldman Sachs analyst upgraded to stock to buy from hold and raised the price target to $165. The stock currently trades close to $136. The analyst also sees upside thanks Coca-Cola's distribution network, particularly in Europe. 

Switching to the German distribution network -- which powers the European access -- makes so much sense for Monster's global expansion, Cramer said, adding that Coca-Cola is the "premier bottling company in Europe."

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.