#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 crowded. This is particularly evident in a decline in convenience store sales.
As a way of diversifying its portfolio, Monster Beverage acquired the Canarchy Craft Brewery Collective in 2022 for $330 million. The following year, Monster launched its “The Beast Unleashed” product line of malt alcoholic beverages. Those accounted for over $39 million or approximately 2% of the company’s total revenue. The company 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
- $53.55
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 6 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $56.45 (5.4% Upside)
