#6 - Monster Beverage (NASDAQ:MNST)
If you’re not a regular follower of the alcoholic beverage sector, Monster Beverage Corp. (NASDAQ: MNST) may be a surprise to see on this list. The company is famous for its signature energy drinks that have propelled the stock to an impressive 77% total return in the last five years.
However, MNST stock is down 9.7% in 2024 as the energy drink sector continues to get more and more crowded. This is particularly evident in a decline in convenience store sales.
To diversify its portfolio, Monster acquired the Canarchy Craft Brewery Collective for $330 million in 2022. The following year, Monster launched its “The Beast Unleashed” product line of malt alcoholic beverages, which accounted for over $39 million or approximately 2% of the company’s total revenue. Monster is also planning to launch this line in select international markets.
The MNST stock consensus price target of $56.45 provides only about 5.8% upside. However, analysts are bidding the stock higher.
About Monster Beverage
Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.
Read More - Current Price
- $54.08
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $56.45 (4.4% Upside)
