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Monster Beverage (MNST) Stock Price Target Raised at BMO Capital

NEW YORK (TheStreet) -- Shares of Monster Beverage (MNST) were higher in early-morning trading on Friday, after the company reported higher-than-expected revenues for the 2016 second quarter.

After Thursday's market close, the Corona, CA-based energy drinks maker posted revenue of $827.5 million, higher than analysts' estimates of $804.2 million.

Earnings of 99 cents per share missed analysts' expectations of $1.03 per share.

U.S. sales rose nearly 8% and international sales rose 32%.

In response to the revenue beat and sales growth, BMO Capital raised Monster Beverage's price target to $165 from...