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BYND

Beyond Meat

$104.06

5.78 (5.88%)

, MCD

McDonald's

$198.27

0.19 (0.10%)

08:49
06/03/19
06/03
08:49
06/03/19
08:49

Beyond Meat expectations high into this week's Q1 results, says Jefferies

Jefferies analyst Kevin Grundy maintains a Hold rating on Beyond Meat (BYND) saying expectations are high into the company's Q1 results on June 6. Given "broad-based" business momentum, expectations of a McDonald's (MCD) contract win, and "positive" recent news flow, the market widely expects an upward revision to Beyond Meat's outlook, Grundy tells investors in a pre-earnings research note. The analyst believes Beyond Meat is "arguably" the best story in staples, but he thinks the market is already discounting a "bluesky" scenario. He keeps an $85 price target on the shares. Beyond Meat closed Friday at $104.12.

BYND

Beyond Meat

$104.06

5.78 (5.88%)

MCD

McDonald's

$198.27

0.19 (0.10%)

  • 06

    Jun

BYND Beyond Meat
$104.06

5.78 (5.88%)

05/28/19
JEFF
05/28/19
INITIATION
Target $85
JEFF
Hold
Jefferies puts Hold rating on Beyond Meat with expectations 'very high'
Jefferies analyst Kevin Grundy initiated coverage of Beyond Meat with a Hold rating and $85 price target. The company's "strong" leadership and growing brand equity, along with favorable secular tailwinds for plant-based proteins within a $1.4 trillion global meat industry, positions the company well for "rapid and sustainable growth," Grundy tells investors in a research note. However, the analyst believes expectations for Beyond Meat are already "very high." As such, bull case developments are likely needed to support the stock at current levels, says Grundy.
05/28/19
WBLR
05/28/19
INITIATION
WBLR
Market Perform
Beyond Meat initiated with a Market Perform at William Blair
William Blair analyst Jon Andersen started Beyond Meat with a Market Perform rating.
05/28/19
WBLR
05/28/19
INITIATION
WBLR
Market Perform
William Blair starts Beyond Meat at Market Perform despite bullish outlook
William Blair analyst Jon Andersen initiated coverage of Beyond Meat with a Market Perform rating. While the analyst is "quite bullish" on the plant-based food industry, he acknowledges that an investment in a high-growth company with a premium valuation "leaves less margin for error." Given that the stock price has nearly quadrupled from the initial public offering in early May, further stock price appreciation may be limited in the near term, Andersen tells investors in a research note.
05/28/19
05/28/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. MasTec (MTZ) initiated with a Buy at UBS. 2. Beyond Meat (BYND) was initiated with an Overweight at JPMorgan, a Market Perform at William Blair, a Neutral at Credit Suisse, Goldman Sachs, and BofA/Merrill, and a Hold at Jefferies. 3. SciPlay (SCPL) was initiated with an Overweight at JPMorgan, an Outperform at Wedbush and RBC Capital, a Buy at BofA/Merrill, Goldman Sachs, Stifel, and Deutsche Bank, as well as an Equal Weight at Morgan Stanley. 4. JetBlue (JBLU) initiated with a Positive at Susquehanna. 5. Red River Bancshares (RRBI) initiated with an Equal Weight at Stephens. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MCD McDonald's
$198.27

0.19 (0.10%)

05/01/19
RHCO
05/01/19
NO CHANGE
Target $230
RHCO
Buy
McDonald's price target raised to $230 from $200 at SunTrust
SunTrust analyst Jake Bartlett raised his price target on McDonald's to $230 and kept his Buy rating after its Q1 results, saying the stock should see continued upside given its "broad-based SSS strength." The analyst also raises his FY19 U.S. comps forecast to 4.5% from 3.5% - the strongest since 2011 - with a positive view on the company's delivery and menu innovation initiatives.
05/01/19
BTIG
05/01/19
NO CHANGE
Target $220
BTIG
Buy
McDonald's price target raised to $220 from $200 at BTIG
BTIG analyst Peter Saleh raised his price target on McDonald's to $220 and kept his Buy rating after its Q1 results, saying the company's menu strategy shift has boosted comps. The analyst expects the increased menu focus on "bundles and full price items" - away from deep discounts - to drive higher U.S. average check for the next couple of quarters. Saleh adds that he is "encouraged by the direction of franchisee cash flow" in spite of his disappointment over negative traffic trends.
05/01/19
05/01/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. McDonald's (MCD) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying while the company's "impressive" U.S. comp growth in Q1 increases his confidence in comps over the last three quarters of the year, he also believes the stock reflects his favorable view with shares trading near his prior price target of $200. 2. Sabre (SABR) downgraded to Market Perform from Outperform at William Blair with analyst Matthew Pfau saying that while the company outperformed in Q1, it lowered guidance across all headline metrics. 3. Alkermes (ALKS) downgraded to Neutral from Buy at Citi with analyst Liav Abraham saying while the positive Phase 3 data for ALKS 3831 in Q4 support a constructive view on the compound, there are not "sufficient meaningful catalysts to drive material upside" in the stock for the remainder of 2019. 4. Tile Shop (TTS) downgraded to Neutral from Buy at Citi with analyst Geoffrey Small saying the company's turnaround "showed encouraging progress" in the second half of 2018, but the Q1 results "represented a sizeable step back." 5. Cummins (CMI) downgraded to Hold from Buy at Loop Capital with analyst Jeffrey Kauffman saying he believes good news is mostly priced into the shares at current valuation levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/21/19
CLVD
05/21/19
NO CHANGE
CLVD
Neutral
McDonald's Q2-to-date U.S. comps ahead of consensus, says Cleveland Research
Cleveland Research analyst Steven Gojak raised his Q2 U.S. comp growth estimate for McDonald's after his checks indicated that the quarter has gotten off to a good start. The analyst, who thinks Q2 comp growth to date is running ahead of consensus expectations in the U.S., has a Neutral rating on McDonald's shares.

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