The firm said it initiated coverage on the alternative beverage company as it believes Monster is the "best secular growth story" in the U.S. beverage sector, as "regulatory fears have abated, and strategic potential is not fully priced into valuation."
Shares of Monster Beverage are up 0.06% to $68.32 at the beginning of trade today.
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Separately, TheStreet Ratings team rates MONSTER BEVERAGE CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MONSTER BEVERAGE CORP (MNST) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."