Shares of National Beverage Corp. FIZZ surged more than 7% in morning trading Monday after the LaCroix maker was upgraded by analysts at Susquehanna, who cited strength in the company’s core products as a reason for optimism.

“We are upgrading to Positive given increased conviction on the sales and bottom-line upside of FIZZ (led by Lacroix), and because of the pullback in the stock since our launch,” wrote Susquehanna analyst Pablo Zuanic.

Susquehanna also raised its price target for the stock from $108 to $150, which would represent a 47% upside from Friday’s close. Shares of the beverage maker have already gained a staggering 100% so far this year.

The analysts at Susquehanna also acknowledged scenarios in which National Beverage would offload one of its businesses. The firm included a 25% probability of a sale and a 75% probability of no sale in determining its current valuation.

In its most recent quarter, National Beverage reported earnings of 82 cents per share and revenues of $259.8 million. Net income was up about 32% year-over-year, while sales growth reached 20% in the quarter. The company said its cash pile increased 29% to $176 million.

“This extraordinary start to our FY2018 marks eleven consecutive quarters of revenue and earnings growth. During this period, our shareholders have enjoyed over 300% increase in their FIZZ holdings and over $139 million in cash dividends,” said CEO Nick A. Caporella in its earnings release.

After the stock touched a new all-time high in September, FIZZ investors began to grow concerned as shares shed nearly 25% over the next month and a half. Nevertheless, FIZZ has already started to bounce back, and today’s upgrade could be exactly what the stock needs to heat up again.

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