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Fly News Breaks for February 14, 2020
BYND
Feb 14, 2020 | 06:33 EDT
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.
News For BYND From the Last 2 Days
BYND
Jul 10, 2020 | 16:31 EDT
Stock futures were weaker overnight and in early morning trading amid ongoing worries over the resurgence of the virus in the U. S... To see the rest of the story go to thefly.com. See Story Here
BYND
Jul 10, 2020 | 10:05 EDT
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Beyond Meat (BYND) initiated with a Sell at Citi. 2. Turning Point Therapeutics (TPTX) initiated with an Outperform at Oppenheimer. 3. Sensient (SXT) initiated with an Overweight at Stephens. 4. 10x Genomics (TXG) initiated with a Buy at Stifel. 5. Investors Real Estate (IRET) initiated with an Overweight at Piper Sandler. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
BYND
Jul 10, 2020 | 09:49 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. CITI INITIATES BEYOND... To see the rest of the story go to thefly.com. See Story Here
BYND
Jul 10, 2020 | 09:06 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Gilead... To see the rest of the story go to thefly.com. See Story Here
BYND
Jul 10, 2020 | 06:16 EDT
Citi analyst Wendy Nicholson initiated coverage of Beyond Meat with a Sell rating and $123 price target. The stock closed Thursday down $3.76 to $141.22. Beyond Meat is a leader in the plant-based meat market, benefitting from a "well-known brand" in both the refrigerated meat section of the grocery store and more recently, in foodservice locations, Nicholson tells investors in a research note. However, the company faces both near-term pressure as a result of its exposure to the foodservice segment and longer-term pressure as the category becomes more competitive, says the analyst. As a result, Nicholson sees 15% downside in shares.
BYND
Jul 10, 2020 | 05:46 EDT
Citi initiated coverage of Beyond Meat with a Sell rating and $123 price target.
BYND
Jul 9, 2020 | 06:43 EDT
Bernstein analyst Alexia Howard raised the firm's price target on Beyond Meat to $133 from $118, noting that she remains positive on long-term international expansion. However, she keeps a Market Perform rating on the shares as she sees limited upside in the short-term due to current headwinds, most notably the company's roughly 50% exposure to foodservice channels. Howard forecasts Q2 sales growth of 52% year-over-year, which she calls "a far cry" from the 141% growth in Q1, adding that this significant slowdown she projects "could shock some retail investors."