This is what I ended up doing and it works also:
SELECT CASE WHEN right(sug_retail,2) >50 and right(sug_retail,2)<95 then replace(sug_retail,right(sug_retail,2),95) else replace(sug_retail,right(sug_retail,2),50) end as NewPrice
or for the full version:
case when right(cast(round(((itw.lst_cost) +3) * 1.43,2) as decimal(8,2)),2)> 50 and
right(cast(round(((itw.lst_cost) +3) * 1.43,2) as decimal(8,2)),2)< 95 then
replace(cast(round(((itw.lst_cost) +3) * 1.43,2) as decimal(8,2)),right(cast(round(((itw.lst_cost) +3) * 1.43,2) as decimal(8,2)),2),95) else
replace(cast(round(((itw.lst_cost) +3) * 1.43,2) as decimal(8,2)),right(cast(round(((itw.lst_cost) +3) * 1.43,2) as decimal(8,2)),2),50)
end as sug_retail