Monster Beverage (MNST) Stock Surging After Citigroup Upgrade

NEW YORK (TheStreet) -- Shares of Monster Beverage Corp  (MNST) are surging, up 6.52% to $136.84 on heavy volume in late morning trading Monday, after analysts at Citigroup upgraded the company to "buy" from "neutral" earlier today.

The firm also issued a $155 price target, saying the stock has pulled back 10% despite its attractive long-term growth potential.

On Friday, shares of the energy beverage company tanked following its mixed first quarter earnings results.

For the first quarter, the company earned 62 cents per diluted share, falling short of the 68 cents per share analysts had forecast.

Still, revenue of $626.8 million for the period, topped analysts' expectations of $603.5 million.

About 1.98 million shares have changed hands as of 11:21 a.m. ET today, compared to its average trading volume of about 1.39 million shares a day.

Monster Beverage is a holding company that develops, markets, sells and distributes a variety of alternative beverages including non-carbonated ready-to-drink iced teas, lemonades, and juice cocktails.

The company is based in Corona, Calif.

Separately, TheStreet Ratings team rates MONSTER BEVERAGE CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate MONSTER BEVERAGE CORP (MNST) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, expanding profit margins, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: MNST Ratings Report

MNST ChartMNST data by YCharts

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