Credit Suisse Starts National Beverage (FIZZ) at Neutral, But Sees $68 Blue Sky Valuation Amid Possible DPS Takeover
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse initiates coverage on National Beverage (NASDAQ: FIZZ) with a Neutral rating and a price target of $55.00.
Analyst Laurent Grandet commented, "We are initiating coverage of National Beverage Corp with a Neutral rating and a $55 target price. The company's largest brand, LaCroix, is ideally positioned in the fast-growing flavored sparkling water segment. We think the company has significant optionality ahead that will drive incremental growth, margin expansion, and shareholder value. However, we think the current share price fully values these opportunities. Our EPS estimates embed an 18% CAGR through FY18; we will be the only firm with sell-side coverage."
The firm's blue sky valuation of $68 contemplates a takeout scenario (possibly by Dr Pepper Snapple).
Shares of National Beverage closed at $52.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Dr Pepper Snapple Group (DPS) Said in Talks to Buy Bai Brands - Reuters
- Goldman Sachs Reinstates ON Semiconductor (ON) at Neutral
- Mizuho Securities Starts Mylan (MYL) at Buy
Create E-mail Alert Related CategoriesNew Coverage, Rumors
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!