MNST - (NASDAQ: MNST) fell more than 3% on TuesdayMonster Beverage Drops On Stifel Concerns
***** (finance.yahoo.com) 03/06/2014
Shares of Monster Beverage (NASDAQ: MNST) fell more than three percent Tuesday morning on comments from Stifel, following the shareholder meeting.
Stifel reduced its estimates on weaker-than-expected sales growth for the past several months. Analyst Mark Astrachan backed up his claims with Monster’s weaker-than-expected April sales and difficulty launching new products.
Stifel cuts its second quarter sales estimate from 12.2 percent year-over-year growth to 9.9 percent. The earnings reduction on this drop is from $0.76 to $0.74. However, Astrachan did state, “We continue to anticipate at least high single-digit sales growth for Monster over the next 3-5 years driven by U.S. share gains, continued international expansion, and innovation.
