Buy Monster Beverage on Trump's tax reform, valuation, Jefferies says

Cans of Monster Energy Drink are displayed on a shelf at a convenience store on August 14, 2014 in Kentfield, California.
Justin Sullivan | Getty Images

Monster Beverage stock has lots of energy, Jefferies analyst Kevin Grundy says.

He just raised his rating on the company to buy from hold, on the energy drink maker's growth prospects and Donald Trump's economic agenda.

"While we have long been bullish on MNST's long-term international opportunity, we are incrementally more positive on MNST's reaccelerating US trends and believe that the shares are attractively valued," Grundy wrote in a note to clients Wednesday.

"MNST stands to benefit disproportionately from potential corporate tax reform in the US under the new administration."