NEW YORK (TheStreet) -- Shares of Monster Beverage (MNST) are lower by 0.41% to $111.69 in early market trading Monday, after the energy drink company was downgraded to "outperform" from "top pick" at RBC Capital this morning.
However, analysts at the firm raised its price target to $121 from $115.
RBC Capital analysts cited Monster Beverage's strong share performance.
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Corona, CA-based Monster Beverage is a holding company that develops, markets, sells and distributes alternative beverages including energy drinks, non-carbonated iced teas, lemonades, and fruit beverages.
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."