Fly News Breaks for January 17, 2020
BYND, MCD, DNKN
Jan 17, 2020 | 05:34 EDT
Credit Suisse analyst Robert Moskow raised his price target for Beyond Meat (BYND) to $125 from $115 while keeping a Neutral rating on the shares. The analyst increased his 2020 sales estimate to $470M from $380M and 2021 estimate to $681M from $535M. He also raised his EBITDA estimates to $44M from $28M and $78M from $44M. Moskow made the changes to reflect Beyond Meat's accelerated plans for production capacity expansion that management outlined on its last earnings call to meet near-term demand. The stock's 45% gain to start 2020 reflects positive investor reaction to news that McDonald's (MCD) expanded the number of test locations in Canada for its P.L.T. burger and the company's strengthened relationship with Dunkin' Brands (DNKN), Moskow tells investors in a research note.
News For BYND;MCD;DNKN From the Last 2 Days
Feb 14, 2020 | 14:03 EST
Chase Coleman's Tiger Global disclosed in an SEC filing its holdings as of December 31, 2019. The fund's five new buys during the fourth quarter included, by size of position, PayPal (PYPL), Alphabet Class A (GOOGL), Cardlytics (CDLX), XP Inc. Class A (XP), and Bill.com (BILL). Tiger exited 16 positions during the quarter, including by size of previous position Fiat Chrysler (FCAU), MercadoLibre (MELI), Wayfair (W), Switch (SWCH), and Beyond Meat (BYND). The fund increased its stake in 15 holdings, including by size of previous position Uber (UBER), Elastic (ESTC), Pinduoduo (PDD), MongoDB (MDB), and RingCentral (RNG). Tiger reduced its stake in 17 holdings, including by size of previous position Alibaba (BABA), Microsoft (MSFT), Facebook Class A (FB), Salesforce (CRM), and Adobe (ADBE). The fund's top holdings as of December 31, in order of size, were JD.com Class A (JD), Apollo Global (APO), Microsoft, Facebook, and TransDigm (TDG).
Feb 14, 2020 | 06:33 EST
Bernstein analyst Alexia Howard raised her price target for Beyond Meat (BYND) to $117 from $106 and maintained a Market Perform rating. In a research note to investors Howard says she sees upside from a wider McDonald's (MCD) partnership and having previously estimated that Beyond Meat could generate $168M sales from a McDonald's partnership in the U.S., but now estimates Beyond Meat could generate $227M-$306M in incremental sales from a potential McDonald's rollout in the U.S. The analyst continues to believe that Beyond Meat's near-term sales growth potential in the U.S. is largely priced in at this point, but thinks there could be upside if Beyond Meat further expands its capacity and more meaningfully expands into international markets.