National Beverage price target lowered to $40 from $45 at UBS

UBS analyst Peter Grom lowered the firm’s price target on National Beverage (FIZZ) to $40 from $45 and keeps a Sell rating on the shares ahead of the Q1 earnings report. Since reporting a strong Q4 in early July, shares had been largely range bound for much of the summer before underperforming considerably in recent weeks, but UBS does not believe the recent underperformance suggests that there is a meaningful shift on fundamentals, the analyst tells investors in a research note.