Monster Beverage Corp (MNST) rated a ‘Buy’ at Stifel on Sales Growth Prospects

Monster Beverage Corporation (NASDAQ:MNST) is one of the 12 best consumer goods stocks billionaires are quietly buying. On June 13, Stifel reiterated a ‘Buy’ rating on the stock and a $72 price target. The bullish stance is in response to the company’s robust sales growth.

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The company’s US sales in tracked channels through June were up by 9.2% as international results rose by mid-teens. In addition, Stifel is buoyed by Monster Beverage’s performance in global markets, which has emerged as a key driver of the overall growth strategy.

Monster Beverage has already warned of upcoming cost pressure from aluminum inflation owing to the US trade war. While this could have a significant impact, Stifel insists that the cost pressures are already factored into the financial estimates. That’s in part because the company’s innovation pipeline for 2025 represents a significant part of the growth strategy.

Monster Beverage Corporation (NASDAQ:MNST) primarily develops and markets energy drinks and alternative beverages. It is focused on brand building and strategic partnerships, particularly with The Coca-Cola Company, to reach a global market.

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Disclosure: None. This article is originally published at Insider Monkey.