Berenberg analyst Donald McLee initiated coverage of Beyond Meat with a Buy rating and $100 price target. The stock closed Wednesday up 75c to $79.02. The plant-based meat category is in the early stages of a "second evolution," McLee tells investors in a research note. He believes its addressable market is expanding beyond the traditional vegan and vegetarian consumer, and expects this trajectory will continue "as major food manufacturers enter the space and the category matures." The analyst views Beyond Meat as among the best positioned to capitalist on the "burgeoning" plant-protein market.