Monster Beverage shares were declining Wednesday, following a rating downgrade from Guggenheim Securities.
Analysts at Guggenheim Securities downgraded the beverage company’s stock to neutral from buy, citing competition from the upcoming Coca-Cola Energy.
Guggenheim also cut on price target on Monster shares to $60 a share from $74. The new target indicates a potential 6.3% upside from the stock's Tuesday closing price.
The analysts indicated that their concerns included Monster’s in-store execution, especially in convenience, where shelf space is more constrained.