Best beverage stocks to buy now

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Beverage stocks are part of the exciting consumer defensive sector. And with the pandemic raging, they could be the ideal options in 2022. Here are some of our best picks.

Monster Beverage

Monster Beverage Corp (NASDAQ:MNST) shares spiked nearly 20% in December, recovering from a sharp decline experienced in the preceding two weeks. Despite the recent rally, the stock still trades at a reasonable P/E ratio of 34.23, making it an attractive option for value investors.

In addition, analysts expect Monster’s earnings to grow by 30% this year and at an average annual rate of 14.31% over the next five years. Thus, it could gain the attention of growth investors.

Source – TradingView

Technically, the stock continues to trade within a sharply ascending channel formation in the intraday chart, surging deep into overbought conditions.

However, given its exciting growth prospects. Investors could target profits at about $99.23 and $100.67, while $96.28 and $94.85 are support levels.

National Beverage

National Beverage Corp (NASDAQ:FIZZ) shares have plunged recently to trade at a P/E ratio of 26.10. Therefore, it could be an interesting option for bargain hunters.

Moreover, analysts expect its bottom line to spike by 34% this year before growing by 25.56% per year over the next five years.

Source – TradingView

Technically, investors could target potential channel breakout profits at about $48.68 and $51.12, while $44.78 and $42.69 are support levels.

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