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LaCroix Seltzer Sales Are in a ‘Free Fall,’ Says Guggenheim

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LaCroix May Be Falling Flat
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LaCroix seltzer owner National Beverage Corp. fell as much as 2.9% on Thursday after Guggenheim cut its price target on the stock, saying industry data show sales are “effectively in free fall.”

Analyst Laurent Grandet, who downgraded the stock March 8 to a sell rating, wrote in a note that LaCroix sales won’t stabilize until at least next year. The price target was cut to $36 from $45. His three main concerns for the brand are: