Monster Beverage jumps after quarterly results beat

Shares of Monster Beverage MNST.O rise 7% to $65.10 premarket

Energy drink maker reports an 11% rise in Q2 net sales to $2.11 bln on steady demand and rapid product innovation

Sales beat estimates of $2.08 bln, as per data compiled by LSEG

Co posts profit per share of 52 cents, above estimates of 47 cents

Brokerage RBC hikes PT on stock to $68 from $64

"We see a favorable setup for MNST and expect sequential improvement in its top line due to pricing, innovation support, and the lapping of c-store (convenience store) softness in 2024," analysts at RBC say

Piper Sandler also raises PT to $74 from $54

14 of 26 brokerages rate the stock "buy" or higher, 10 "hold", and two "sell"; their median PT is $68

Up to last close, stock up about 16% YTD