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BYND

Beyond Meat

$76.64

3.04 (4.13%)

, TSN

Tyson Foods

$90.07

0.11 (0.12%)

13:21
12/17/19
12/17
13:21
12/17/19
13:21

Beyond Meat CEO Ethan Brown drops hint on poultry news coming, Bloomberg says

According to a story out on Monday afternoon, Bloomberg's Deena Shanker wrote that plant-based protein company Beyond Meat (BYND) is extending past beef and pork and venturing into poultry. "You'll see some exciting things from us in the poultry space in 2020," the Beyond meat CEO, Ethan Brown said in an interview with Bloomberg TV. Companies that may be impacted by this include Tyson Foods (TSN) and Pilgrim's Pride (PPC). URL

BYND

Beyond Meat

$76.64

3.04 (4.13%)

TSN

Tyson Foods

$90.07

0.11 (0.12%)

PPC

Pilgrim's Pride

$31.97

-0.27 (-0.84%)

BYND Beyond Meat
$76.64

3.04 (4.13%)

12/02/19
OPCO
12/02/19
INITIATION
OPCO
Perform
Beyond Meat initiated with a Perform at Oppenheimer
Oppenheimer initiated coverage of Beyond Meat with a Perform rating.
12/03/19
OPCO
12/03/19
INITIATION
OPCO
Perform
Opco comes out neutral on Beyond Meat due to 'pricey' valuation
Oppenheimer analyst Rupesh Parikh last night initiated coverage of Beyond Meat with a Perform rating and no price target. The analyst looks "quite favorably" upon the Beyond Meat brand, product assortment, track record of innovation, longer-term prospects, and its positioning to the "very on-trend" alternative meat category. However, a "pricey" valuation, increasing competition, and the potential for new selling pressures following the expiration of the lock-up suggest "more muted upside potential," Parikh tells investors in a research note. The analyst, despite his neutral rating, says Beyond Meat shares are "very much" on his radar.
12/03/19
12/03/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Facebook (FB) and Alphabet (GOOG, GOOGL) initiated with an Overweight at Piper Jaffray. 2. Ulta Beauty (ULTA) resumed with a Buy at Deutsche Bank. 3. Beyond Meat (BYND) initiated with a Perform at Oppenheimer. 4. uniQure (QURE) was initiated with a Buy at Goldman Sachs and an Outperform at Cowen. 5. Enphase Energy (ENPH) initiated with a Buy at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/04/19
JEFF
12/04/19
NO CHANGE
JEFF
Hold
Jefferies survey shows plant-based meat market can reach $15B in 10 years
Jefferies analyst Kevin Grundy says his firm's survey 1,800 U.S. consumers supports his view that the U.S. plant-based meat market can expand at a 25% annually to $15B over the next 10 years. The survey suggests "ample scope" for plant-based meat penetration and frequency rates to rise, and an attractive demographic skew toward millennials and generation Z, with restaurants a major access point for younger consumers, Grundy tells investors in a research note. The analyst believes Beyond Meat (BYND) will be a key beneficiary of the growth in the U.S. plant-based meat market. His 10-year model implies that plant-based meat reaches ~5% of the total U.S. meat market, which he notes is still well below plant-based dairy that comprises ~15% of the U.S. milk market. Grundy continues to view Beyond Meat "as perhaps the best growth story in Staples." However, even with the stock's recent pullback, the company's valuation at 10.5 times sales "sets a high bar," contends the analyst. As such, he keeps a Hold rating on Beyond Meat shares.
TSN Tyson Foods
$90.07

0.11 (0.12%)

11/14/19
BOFA
11/14/19
UPGRADE
Target $180
BOFA
Buy
Sanderson Farms upgraded to Buy from Underperform at BofA/Merrill
BofA Merrill Lynch analyst Peter Galbo upgraded Sanderson Farms (SAFM) to Buy from Underperform with a price target of $180, up from $133. Multiple press reports are indicating that China's customs agency has lifted restrictions on the import of U.S. poultry, effective immediately, which is a result of protein shortage in the country due to African Swine Fever and outside of the Phase 1 trade deal, Galbo noted. While he expects all U.S. chicken processors - including Tyson Foods (TSN) and Pilgrim's Pride (PPC) - to benefit, he sees the most incremental benefit to Sanderson as the company now will be able to ship chicken feet/paws and wing tips to China, where it has not shipped since 2015.
12/04/19
JPMS
12/04/19
NO CHANGE
Target $89
JPMS
Neutral
Tyson Foods price target raised to $89 from $83 at JPMorgam
JPMorgan analyst Ken Goldman raised his price target for Tyson Foods to $89 from $83 saying he's encouraged by China opening its borders to U.S. chicken, the recent strength in U.S. meat prices, and the potential for the company's fiscal 2020 earnings to beat expectations. The analyst raised his estimates for Tyson Foods but keeps a Neutral rating on the shares due to valuation. African swine fever should provide a "significant tailwind" to Tyson's Chicken segment, Goldman tells investors in a research note.
10/25/19
BOFA
10/25/19
INITIATION
Target $97
BOFA
Buy
Tyson Foods initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Peter Galbo initiated coverage of Tyson Foods with a Buy rating and $97 price target.
11/13/19
BMOC
11/13/19
NO CHANGE
Target $98
BMOC
Outperform
Tyson Foods price target raised to $98 from $90 at BMO Capital
BMO Capital analyst Kenneth Zaslow raised his price target on Tyson Foods to $98 and kept his Outperform rating, noting that while the company missed on Q4 earnings because of weaker performance in Prepared Foods, its FY20 guidance calls for high-single-digit earnings growth with "potential for profound upside." The analyst also points to the strong beef/pork fundamentals and the potential for a chicken trade agreement with China supporting the stock beyond the "short-term operational missteps."
PPC Pilgrim's Pride
$31.97

-0.27 (-0.84%)

08/20/19
08/20/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pilgrim's Pride (PPC) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow citing the management's implementation of a "successful execution" of its chicken strategy. 2. Beyond Meat (BYND) upgraded to Overweight from Neutral at JPMorgan while Campbell Soup (CPB) was upgraded to Neutral from Underweight. 3. Chemours (CC) upgraded to Positive from Neutral at Susquehanna with analyst Don Carson saying he thinks end-user destocking of TiO2 appears to have run its course and he views the company as the prime beneficiary of an upturn in industry volumes in 2020. 4. AbbVie (ABBV) upgraded to Overweight from Neutral at Piper Jaffray with analyst Christopher Raymond saying while he remains negative on the company's decision to acquire Allergan (AGN), he believes that a bottom on the stock has been found around $66. 5. CACI (CACI) upgraded to Outperform from Neutral at Credit Suisse with analyst Robert Spingarn saying in an uncertain macro environment, he likes a defensive name that can support a multi-year story of organic growth, margin expansion, and M&A optionality, all while offering an attractive valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/19
BOFA
10/25/19
INITIATION
Target $32
BOFA
Neutral
Pilgrim's Pride initiated with a Neutral at BofA/Merrill
BofA/Merrill analyst Peter Galbo initiated coverage of Pilgrim's Pride with a Neutral rating and $32 price target.
09/19/19
SPHN
09/19/19
NO CHANGE
Target $35
SPHN
Overweight
Pilgrim's Pride price target raised to $35 after analyst day at Stephens
Stephens analyst Ben Bienvenu said he thinks Pilgrim Pride management's well articulated key customer strategy and operational excellence, which were on display at the company's investor day, should continue to drive value over commodity cycles. Bienvenu adds that he sees the benefit from ASF-driven protein inflation "becoming a when, not if situation for the U.S. market." The analyst, who sees Pilgrim's as best positioned in the near-term among protein companies with Mexico and Europe performing well and the U.S. bar "set appropriately," raised his price target on the stock to $35 from $33 and keeps an Overweight rating on shares.

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$1,480.28

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

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BA

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$324.11

-7.89 (-2.38%)

, DDAIF

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FSLR

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AAPL

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DQ

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SPOT

Spotify

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CE

Celanese

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  • 31

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BYND

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DBD

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UBSFY

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IMVT

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TBLT

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MYO

Myomo

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SRRA

Sierra Oncology

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SRNE

Sorrento Therapeutics

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AKER

Akers Biosciences

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ECA

Encana

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  • 29

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MBRX

Moleculin Biotech

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

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$0.00

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16:30
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