Monster Beverage Board authorizes new $250M share repurchase program Monster Beverage announced that its Board of Directors has authorized a new share repurchase program for the repurchase of up to $250M of the company's outstanding common stock. There was no availability remaining under the previously authorized $500M share repurchase program. The Company expects the share repurchases to be made from time to time in the open market or through privately negotiated transactions, or otherwise, subject to applicable laws, regulations and approvals. The timing of the share repurchases will depend on a variety of factors, including market conditions, and share repurchases may be suspended or discontinued at any time.
Monster Beverage upgraded to Buy from Outperform at CLSA CLSA upgraded Monster (MNST) to Buy and raised estimates to reflect higher international growth forecasts from its partnership with Coca-Cola (KO). Price target raised to $130 from $110.