Analyst Update: Monster Beverage, Google, Yamana Gold

Analysts adjusted their ratings on MNST, GOOGL, and AUY

Josh Selway

Dec 16, 2014 at 3:58 PM

Analysts are weighing in today on drink maker Monster Beverage Corp (NASDAQ:MNST), Internet giant Google Inc (NASDAQ:GOOGL), and commodity concern Yamana Gold Inc. (USA) (NYSE:AUY). Here's a quick look at today's brokerage notes on MNST, GOOGL, and AUY.

MNST has added 1.4% today in response to CLSA's price-target hike to $130 from $110 and its upwardly revised "buy" endorsement. The stock is now trading at $106.53, up 50.3% since The Coca-Cola Co (NYSE:KO) bought a significant stake in it in mid-August. The security's run may not be over, as 55% of covering analysts rate it a "hold," leaving room for additional upgrades to boost the shares higher. Plus, Monster Beverage Corp could see more price-target hikes from brokerage firms, as it's nearing its consensus 12-month price target of $111.53.

GOOGL's disappointing year continues, as it has lost 3.8% today -- and touched an annual low of $498.23 -- following J.P. Morgan Securities' $70 price-target reduction to $600 from $670. The brokerage firm also cut its revenue and profit estimate for the company's current quarter, as well as the 2015 and 2016 fiscal years, but maintained its "overweight" rating. The stock was last seen at $499.50, down 10% year-to-date. Google Inc could be ripe for more downgrades, too, as 77% of covering firms rate it a "strong buy," with no analyst rating it worse than a "hold." However, GOOGL's 14-day Relative Strength Index (RSI) comes in at 32, nearing oversold territory, meaning a short-term bounce could be in its future.

Credit Suisse is apparently not high on gold at the moment, as it downgraded numerous commodity stocks last night, including AUY. The brokerage firm cut it outlook on the equity to "neutral" from "outperform," and reduced its price target by a $1 to $4.50. Yamana Gold Inc. (USA) was last seen down 2.9% at $3.56. If AUY doesn't rebound, it could be the victim of additional analyst downgrades, considering 69% of covering firms rate it a "buy" or better. Such a turnaround seems unlikely, though, as the security has underperformed the broader S&P 500 Index (SPX) by over 44 percentage points in the past three months.

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