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Fly News Breaks for November 18, 2019
KO, FIZZ
Nov 18, 2019 | 08:47 EDT
Guggenheim analyst Laurent Grandet said he expects National Beverage's (FIZZ) LaCroix brand to likely lose shelf space and market share to Coca-Cola's (KO) upcoming "AHA" brand of flavored sparkling waters, which are launching in March 2020, and he lowered his EPS estimates in FY21 and FY22 accordingly. He continues to think LaCroix will not stabilize until at least next year, given increased competition and what he sees as a lack of meaningful innovation, and Grandet keeps a Sell rating on shares of parent National Beverage, trimming his price target on the stock to $31 from $32.
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