Susquehanna analyst Pablo Zuanic reiterated a Buy rating on National Beverage (NASDAQ: FIZZ) today and set a price target of $138. The company’s shares opened today at $98.
Zuanic noted:
“Whether founded or unfounded, it seems questions (as per a lawsuit, that National Beverage has called “baseless”) about Lacroix’s use of only natural ingredients may be having some impact (temporary?) with the consumer. The scanner data (Lacroix $ sales) for the last 2w through 10/21 says so (-3% last 2w, vs. +16% previous 2w, and +26% in Sep). A survey we conducted recently also raises some concerns; although it implies only 11% of Lacroix consumers now drink less than six months ago (c40% drink more), we note close to 30% of Lacroix consumers drink it because it is natural (the rest due to taste/bubbles), and almost 40% of these (the “natural” ones) have cut back on Lacroix. We realize it is early days, but we are trimming estimates for 2Q19 (out early Dec) and 2H19.”
According to TipRanks.com, Zuanic is a 4-star analyst with an average return of 5.2% and a 50.5% success rate. Zuanic covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners, Constellation Brands Inc, and Anheuser-Busch Inbev Sa.
National Beverage has an analyst consensus of Hold, with a price target consensus of $106.
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The company has a one-year high of $127.32 and a one-year low of $83.78. Currently, National Beverage has an average volume of 201.4K.
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National Beverage Corp. engages in the development, manufacture, market, and sale of flavored beverage products. Its brands include Shasta, Faygo, Everfresh, LaCroix, Rip It, Asante, Mt. Shasta, ClearFruit, Mr. Pure, Ritz, Crystal Bay, Cascadia Sparkling Clear, Cascadia Only 2 Calories, Ohana, Big Shot, and St. Nick’s.
