Maxim analyst Anthony Vendetti continues to recommend a Sell on National Beverage stock with a price target of $40 despite the better than expected Q2 results. Vendetti says the case volume in Power+ Brands segment, which accounts for 52% of total sales and includes LaCroix, grew 41%. However, the carbonated soft drinks segment volume has likely declined again and has been flat-to-down over the last four years, writes the analyst in his research note. Vendetti says the company's "numerous weak brands and opaque financial reporting" make its sale "highly unlikely".