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Fly News Breaks for June 27, 2019
FIZZ
Jun 27, 2019 | 07:47 EDT
Guggenheim analyst Laurent Grandet keeps a Sell rating on National Beverage and lowered his price target on the stock to $34 from $36 following the company's Q4 report, which he said confirmed his expectations that the LaCroix brand "is now in precipitous decline." Grandet thinks LaCroix will not stabilize until at least next year given what he sees as its impaired brand image, along with increased competition and a "lack of meaningful or disruptive innovation."
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