Monster Beverage Upgraded to Overweight at Piper Sandler 
<p>Piper Sandler analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/MNST'>Monster Beverage (NASDAQ:MNST)</a> to an Overweight rating from Neutral and increased their price target to $63.00 from the previous $60.00. According to the analysts’ comments, although the Q2/23 results fell below expectations, there are no major concerns about the company's overall business or its near and long-term momentum. The energy drink category, in particular, is seen as highly promising, especially given the absence of private label competition.</p>
<p>Anticipating a promising future, the analysts project a robust 10-11% three-year revenue compound annual growth rate (CAGR). Additionally, there are expectations of a gross margin recovery, leading to an estimated 22-23% three-year EPS CAGR.</p>
<p>As a result of the positive outlook, the analysts raised the estimated earnings per share for 2023 from $1.51 to $1.60 and for 2024 from $1.82 to $1.90. </p>

NASDAQ:MNST