Fly News Breaks for January 15, 2020
Jan 15, 2020 | 06:19 EDT
Bernstein analyst Alexia Howard downgraded Beyond Meat (BYND) to Market Perform from Outperform with an unchanged price target of $106. The shares closed Tuesday up $2.71 to $117.05. The stock has rallied 55% thus far in 2020, fueled by recent news including McDonalds (MCD) expanding its test of Beyond's P.L.T. burger in Canada, Howard tells investors in a research note. The analyst cites valuation for the downgrade as she believes Beyond Meat's risk/reward has become less attractive following the recent rally. The company's near-term sales growth potential in the U.S. is largely priced in at this point, says Howard. That said, there could be share upside if Beyond Meat expands internationally down the road, adds the analyst.
News For BYND;MCD From the Last 2 Days
Feb 18, 2020 | 10:25 EST
Bullish option flow detected in Beyond Meat with 36,583 calls trading, 1.5x expected, and implied vol increasing over 6 points to 90.19%. Feb-20 125 calls and Feb-20 130 calls are the most active options, with total volume in those strikes near 6,800 contracts. The Put/Call Ratio is 0.31. Earnings are expected on February 27th.