- Monster (MNST +12.9%) rips higher after a nifty $0.07 EPS beat that was split almost evenly between sales growth and margin gains.
- On Wall Street, Susquehanna raised estimates on the beverage company after factoring in the company's strong Q1 report.
- Analyst Pablo Zuanic forecast FY16 EPS of $3.78 and FY17 EPS of $4.45. He also assigned a 30% premium to Monster in comparison to peers to derive a new price target of $132. The Neutral stance on MNST from Zuanic is based in part on some risk in international markets and the potential for further disruption during the transition to the Coca-Cola system.
- On top of earnings today, Monster struck a key distribution deal with Coca-Cola Amatil (OTCPK:CCLAF, OTCPK:CCLAY) and announced its intent to buy back $2M in shares through a modified Dutch auction tender process.
- Monster's trading volume today is already 2X normal activity.
- Previously: Monster Beverage beats by $0.06, beats on revenue
Energetic rally for Monster Beverage after earnings
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| Symbol | Last Price | % Chg |
|---|---|---|
| MNST | - | - |
| Monster Beverage Corporation | ||