NEW YORK (TheStreet) -- Shares of Monster Beverage Corp. (MNST) are down by -1.16% to $92.41 in pre-market trading on Monday, following a ratings downgrade to "hold" from "buy" at Jefferies Group (JEF) .
The firm said it reduced its rating on the alternative beverage maker based on a valuation call, following a run up on the Coca-Cola (KO) deal.
After the close on Thursday, Monster and Coke announced they entered into a long term strategic partnership, sending Monster's stock higher. On Friday shares of Monster finished with a gain of 21.84% to $93.49.
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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, compelling growth 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."