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Monster Beverage Slips on Goldman Downgrade to Neutral

Cherella Cox

shares were down Wednesday after Goldman Sachs downgraded the stock to neutral from buy and removed it from its Americas Conviction List. Goldman analysts also lowered the security's price target to $59 from $67, citing a meaningful deceleration in U.S sales that will more than offset the company's strong international growth. as it touts plans to release three energy drinks into Monster's territory.