NEW YORK (TheStreet) -- Shares of Monster Beverage Corp. (MNST) are higher by 2.76% to $73.35 in pre-market trading today after analysts at Wells Fargo (WFC) initiated coverage on the stock with an "outperform" rating.
The firm said it started the alternative beverage company with a strong rating based on its ability to generate out-sized global growth.
Wells Fargo has a price target of $79 to $81 on the stock.
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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: