Monster Beverage's (MNST) market share losses are expected to slow down in 2025, especially in the US, with "ample opportunity" for the company to start regaining market share in 2026 and beyond, RBC Capital Markets said in a Thursday note.

Since early 2020, Monster has lost market share on a quarterly basis and its core franchise is still a source of market losses, the brokerage said.

The company's management is expected to address investors after market close Thursday. The brokerage expects an "optimistic tone" from management at the annual stockholders' meeting.

RBC said the energy drink segment has "seemingly defied gravity" amid a difficult global consumer environment, and has displayed "healthy, sequentially accelerating volume growth."

RBC also said it remains bullish on the company "due to strong category fundamentals globally and moderating share losses."

RBC has an outperform rating on the stock with a $64 price target.

Price: 63.23, Change: +0.64, Percent Change: +1.02