National Beverage price target lowered to $39 from $40 at UBS

UBS lowered the firm’s price target on National Beverage (FIZZ) to $39 from $40 and keeps a Sell rating on the shares. National Beverage reported in line Q1 EPS, as weaker top line growth was offset by better than expected gross margin, the analyst tells investors in a research note. UBS continues to believe that the investment case is largely dependent on top line and market share trends, and with the tracked data indicating that volumes have continued to weaken quarter-to-date, expects that sentiment is likely to remain negative until there is greater signs that stabilization or improvement is on the horizon.