Shares of drink maker Hansen Natural Corp. dropped nearly 8 percent Friday after an analyst cut his rating due to a recent run-up in the stock price.

JPMorgan analyst Dara Mohsenian downgraded the shares to “Neutral” from “Overweight,” saying that the company’s stock price has more than doubled over the last year, putting its “valuation above many of its high growth consumer group peers.”

Despite the downgrade, Mohsenian said he still sees potential for earnings growth through 2009, due to continued strong sales of the Corona-based company’s Monster energy drink. He also said that a new coffee product called Java Monster could also contribute to growth.

Shares in Hansen dipped 7.6 percent, or $5.16, to $62.95 in afternoon trading Friday on the Nasdaq. Shares hit a 52-week high Thursday of $68.40.