|Bid||145.75 x 800|
|Ask||145.50 x 1800|
|Day's Range||146.28 - 151.64|
|52 Week Range||45.00 - 239.71|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||165.43|
Restaurant Brands CEO José Cil said if a company delivers good food a recession won't hurt its business.
This weekend's Barron's offers ways to prepare portfolios to ride out the next decade. "How to Prepare Your Portfolio for the Worst When the Worst Is a Real Possibility" by Reshma Kapadia shows how financial advisors are beginning to prepare for some bad, but not unthinkable, "doomsday" scenarios. Should Microsoft Corporation (NASDAQ: MSFT) be in your doomsday portfolio?
Climate change is on the agenda as leaders of the G-7 nations meet in France. Alternative meat could be part of the answer, one Wall Street firm says.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Nestle SA is tweaking the recipe of its vegetarian burgers after half a year on the market amid stiffening competition for meat substitutes.Garden Gourmet Incredible Burgers will be juicier and have more of a grilled-beef flavor, the Swiss food giant said Friday. Nestle will also launch a ground beef alternative called Garden Gourmet Incredible Mince in Austria, Germany, Norway and Sweden next month. The soy-based product can be molded into meatballs and cooks up like raw beef.Nestle Chief Executive Officer Mark Schneider is revamping the company’s faux-meat offering as a wave of upstart competitors including Beyond Meat Inc. and Impossible Foods Inc. enters the mainstream. He’s been pushing Nestle managers to accelerate development of products like the Incredible Burger and accept the risk that they may need reworking.Beyond Meat has stormed into fast-food and high volume catering in collaborations with Tim Hortons, Dunkin’ Donuts and Aramark. Closely held Impossible Foods’s burger is on menus at some 10,000 restaurants -- including White Castle, Red Robin and Burger King, according to the company.Nestle started selling Incredible Burgers in Europe in April and aims to introduce a version called the Awesome Burger for the U.S. market this fall. The company declined to comment on the outlook for expanding its relationship with McDonald’s Corp., which sells Incredible Burgers in Germany.The Incredible Burger has yet to come to the U.K., one of the most promising markets for meat substitutes, according to Wayne England, head of Nestle’s food business. Nestle ended a test of other Garden Gourmet items in Britain with a customer it didn’t identify earlier this year, and it no longer sells the line of products in the U.K., according to a spokesman.(Corrects to show Nestle stopped selling Garden Gourmet products in the U.K.)To contact the reporter on this story: Thomas Mulier in Geneva at email@example.comTo contact the editors responsible for this story: Eric Pfanner at firstname.lastname@example.org, John Lauerman, Jennifer RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares available on the secondary markets have sold at a level that would give the Redwood City-based meat alternative business a valuation of as much as $5 billion.
(Bloomberg Opinion) -- Big food is salivating over fake meat after the blockbuster initial public offering of Beyond Meat Inc., the leading plant-based protein brand, in May. Traditional producers have rushed into the booming market for meat substitutes, which threaten to take a slice of their business. Tyson Foods Inc. was an early investor in Beyond Meat, but sold its stake before the company’s trading debut and announced its own line of faux meat. Other U.S. companies, such as Smithfield Foods Inc., are introducing alternative protein products. European giants are getting in on the act too, with Nestle SA snapping up California-based Sweet Earth two years ago and Unilever NV buying The Vegetarian Butcher last year.It’s a familiar playbook. The big drinks companies have bought craft brewers. Major cosmetics houses are blending more artisan scents into perfumes. But there’s one segment where the similarities – and potential pitfalls -- are striking: tobacco, which is trying to woo smokers with the products they describe as lower risk, such as electronic cigarettes. Just as the tobacco industry has turned to vaping products to cope with high taxes and declining rates of smoking, big food sees a growing market for meat substitutes as people eat less animal protein and governments slap taxes on their other unhealthy products (and even consider levies on red meat). But traditional food manufacturers eager for vegan profits may struggle with some of the same obstacles tobacco has faced with vaping: adoption and regulation.Just look at Japan. It’s the most developed nation for devices that heat, rather than burn, tobacco, accounting for about 25% of the market. While tech-savvy early adopters were quick to switch to the new devices, older generations were slower to follow suit.Meat substitutes could see a similar trajectory. Analysts at Barclays Plc point out that men drive demand for meat. Convincing them –particularly older generations to switch -- will be crucial. Plant protein substitutes also tend to be more expensive. The premium will need to be whittled away for consumption to be widespread.While there’s no suggestion that fake meat products cause harm in any way – as has been alleged in some cases with vaping – not everyone agrees that they are healthier than animal protein. Chipotle Mexican Grill Inc. said it would not be stocking meat alternatives because they are too processed for the burrito chain. Beyond Meat has hit back at the claims, saying that its products and facilities are more transparent than those in the meat industry. More importantly, faux meat manufacturers will need to keep innovating – and investing – to grow, just as tobacco companies have had to come up with ways to make electronic cigarettes more satisfying for smokers to encourage them to switch. Plant-based protein producers will need to stay one step ahead of the competition with new ingredients, akin to how the market for milk substitutes expanded from soy to embrace soaring demand for nut and oat drinks. Beyond Meat and Nestle’s Sweet Earth use peas for their meatless dishes; Unilever’s The Vegetarian Butcher uses lupine beans to give some meals a fatty, nutty flavor. The possibilities are endless.Yet with innovation comes the risk of alienating consumers and inviting regulation. The magic ingredient at Impossible Foods Inc. – the other big independent plant-based protein maker – is heme, which gives its burgers a bloody meat-like taste. The ingredient is genetically engineered. The U.S. Food and Drug Administration recently found heme to be safe as a color additive, paving the way for sales in supermarkets. But using a genetically-engineered ingredient could turn off the very ethical, health-customers Impossible wants to attract.As big food courts vegans, it will confront pickier consumers than smokers-turned-vapers. Already some are worried about Burger King cooking the Impossible Whopper on the same grill as meat burgers, unless the customer asks for it to be prepared separately.A bigger danger would be if any plant products were found to contain animal traces. Impossible recently partnered with meat processor OSI Group to add more manufacturing capacity and ease supply constraints. It has dedicated capacity at OSI’s facilities, and the production line is not shared with animal-derived products. But it’s a risky move, and one that traditional meat producers going vegan will also have to manage.Like big tobacco, food manufacturers are already confronting challenges to the way they label products. States including Arkansas and Mississippi have banned companies from using the word “burgers” or “dogs” to describe plant-based alternatives. That’s a regulatory breeze compared the crackdown on vaping. In June, San Francisco became the first U.S. city to ban the sale of electronic cigarettes. But it’s still a headwind in what is a nascent industry. While the path of big tobacco highlights some of the challenges facing plant-based protein, there’s one more appetizing similarity. Last year, Altria Group Inc., which owns Philip Morris, took a 35% stake in Juul Labs Inc., the U.S. market-share leader in electronic cigarettes, valuing the company at $38 billion. Beyond Meat is now valued at a staggering $9 billion, almost a third of what food giant Tyson is worth. Such lofty valuations reflect long-term consumer trends. But as the tobacco industry has learned from its foray into alternatives, big food producers shouldn’t assume fake meat is an easy recipe for success. To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: Stephanie Baker at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Organic grocery chain Whole Foods played a vital role in bringing Beyond Meat Inc (NASDAQ: BYND ) products to the mass market, John Mackey, co-founder and CEO of Whole Foods, said during a recent CNBC ...
One fact always holds true, everyone needs to eat. For this reason, food stocks can make compelling investments as there will always be a demand. According to the Department of Agriculture, American consumers spend 10% of their disposable income on food. Not to mention the global food market offers an even larger opportunity, with its population about 20 times that of the U.S. That’s not to say that all food stocks are created equal. J.P. Morgan analyst Kenneth Goldman notes that the competition has become more about potential to acquire new customers, strength in measured data and valuation. Based on this, he upgraded Beyond Meat (BYND) to a Buy, kept on Hold on Hershey (HSY) as well as bumped up the price target and downgraded McCormick (MKC) to a Sell. Let’s take a closer look. Buy: Beyond Meat Inc. (BYND)Although shares are down 131% over the last six months, Goldman believes BYND should be on the menu upgrading the rating from a Hold to a Buy. BYND has placed a strong focus on growing its customer base. In just the last month, Dunkin’ (DNKN), Blue Apron (APRN) and Taco Cabana have all announced the addition of Beyond Meat products to their menus. Not to mention BYND’s Q2 net sales gained a massive 287% from last year reaching $67.3 million. Management attributed this growth to an increase in sales of the Beyond Burger, expansion in the number of retail and food service points of distribution and greater demand from existing customers.Goldman also highlights its valuation as driving his more optimistic thesis. “With cash-on-hand likely to exceed $300MM by the end of 3Q, another guidance raise potentially ahead, and the stock 40% off its high, we think the stock is appealing once again,” the four-star analyst explained. All of these factors played into the rating upgrade.The rest of the Street takes a more cautious stance on BYND. It has a ‘Hold’ analyst consensus and a $122 average price target. This suggests shares could drop 20% over the next twelve months. Hold: Hershey Company (HSY)The last food stock on our list just got a price target boost from J.P. Morgan. Hershey is one of the most well known candy makers, with it controlling about 45% of the domestic chocolate market. Over the past 85 years, the company has expanded its product portfolio to contain more than 80 brands, including Hershey's, Reese's, Kit Kat, Twizzlers and Ice Breakers. The company hasn’t stopped there with it announcing its investment in protein bar company FULFIL Holdings Limited and Blue Stripes LLC on August 19. “As we continue to expand our snacking portfolio, our innovation agenda takes a balanced approach across investing in core brands and experimenting with new business models. This includes creating new platforms through R&D, strategic acquisitions and investments in businesses that are sitting at the cross section of new consumer snacking needs,” Chief Growth Officer Mary Beth West said. To that end, HSY announced that it would be adding a product ordering tool for retailers to its online portal. Not to mention the company has raised each year’s dividend for nine consecutive years. Despite all of this good news, Hersey still has challenges it needs to address. Goldman points to the company’s valuation as a cause for concern. HSY has a market cap of $33 billion with a P/E ratio of 27.47. This is compared to its competitor Mondelez’s (MDLZ) $78 billion market cap and 21.26 P/E ratio. As a result, the J.P. Morgan analyst raised his price target from $148 to $151 while reiterating his Hold rating. Goldman thinks shares could drop 4% over the next twelve months. The rest of the Street mirrors the analyst’s sentiment. With 1 Buy rating vs 8 Holds and 1 Sell received over the last three months, the consensus among analysts is that HSY is a ‘Hold’. Its $141 average price target indicates 11% downside potential. Sell: McCormick & Company (MKC)Based on Goldman’s McCormick downgrade, the company won’t be spicing up investors’ portfolios anytime soon.MKC stock has soared in 2019 with it up 16% year-to-date. However, this has pushed it into what Goldman considers to be overvalued territory. The stock currently trades at $161.01 and has a forward P/E ratio of 28.45 compared to Kraft Heinz’s (KHC) 9.65 forward P/E. Concerns are also mounting over how heavily Brexit will weigh on McCormick’s business. The company stated that Brexit could cause the number of border inspections to grow and would likely cause costs of goods imported and exported from the UK to increase.The company has made efforts to expand its reach through a series of acquisitions that included Reckitt Benckiser's (RBGLY) food division for $4.2 billion back in 2017. The deal gave MKC access to the Frank’s and French’s brands. That being said, Goldman doesn't believe that its next acquisition will be able to live up to the size of its previous acquisitions.“MKC's fundamentals are attractive relative to packaged food peers and the spice category is strong, but the magnitude of margin expansion experienced over the past year is unlikely to recur, and the stock’s much higher-than-average valuation looks stretched to us,” the analyst added. As a result, Goldman downgraded the rating to a Sell and decreased the price target from $154 to $150, implying 7% downside.The Street isn’t quite as bearish on MKC. It has a ‘Hold’ analyst consensus and a $153 average price target, suggesting 5% downside.
Beyond Meat (BYND) has had quite a year so far, up as much as nearly 9.5 times its IPO price, to its current value of roughly $152 a share. J.P. Morgan analyst Ken Goldman even upgraded BYND stock from its previous rating of "Neutral" to a new rating of "Overweight" in a recent note. In 2013, Whole Foods gave plant-based meat start-up Beyond Meat its first opportunity by offering its vegan “chicken” strips at Whole Foods locations across the country.
Despite its occasional short-term spikes, Blue Apron (NYSE:APRN) stock continues its trend downward. So far, new food offerings, changes in management, and a reverse stock split have failed to rescue Blue Apron stock.Demographic, lifestyle, and technology trends have helped drive demand for meal kits. As a result, one can understand the emergence of Blue Apron. However, unless APRN can find a way to stand out from its peers, any move higher by Blue Apron stock will amount to little more than selling opportunities.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Blue Apron Stock Continues to DeclineNothing seems to change for Blue Apron stock. The shares' continuous overall declines have sometimes been interrupted by temporary rebounds. Thus far, APRN has suffered a 1-15 reverse stock split in June, as well as a decline of nearly 96% from its split-adjusted IPO price of $150 per share.APRN's decision to bring in a new CEO made investors optimistic about Blue Apron stock for a short time. However, that rally quickly faded. By the way, Blue Apron also hired a new CEO in 2017. * 10 Marijuana Stocks to Ride High on the Farm Bill APRN stock also gained temporary traction when the company added products from Beyond Meat (NASDAQ:BYND) to its menu. Again, that gain quickly faded. Such behavior appears to show that every move higher by APRN stock seems to be a great time to sell the shares. Blue Apron Does Not Stand Out in the Meal-Kit BusinessThat said, investors should not confuse my criticism of APRN stock with pessimism about meal kits in general. The meal-kit market grew by 36% in under a year. InvestorPlace columnist Josh Enomoto mentioned that millennials love eating out but hate driving. As a result, by enabling consumers to order meal kits through an app, APRN has supposedly created a powerful, positive catalyst for APRN stock.However, there is a great deal of competition within the meal-kit sector, and this goes far beyond the emergence of HelloFresh, which incidentally has partnered with Walgreens Boots Alliance (NASDAQ:WBA). Larger, deep-pocketed grocers such as Walmart (NYSE:WMT), Amazon (NASDAQ:AMZN), and Kroger (NYSE:KR), have also entered the meal-kit business. Also, as InvestorPlace contributor Luke Lango points out, meal kits' growth could slow to the single-digit-percentage range by 2023 if estimates by Packaged Facts prove correct.Unfortunately for APRN stock bulls, nothing about Blue Apron differentiates it from any other meal-kit provider out there. And let's be honest, any halfway-motivated culinary school graduate (and some non-graduates) could develop such kits and package them. The only thing narrower than the moat for Blue Apron stock is the company's opportunity for a recovery. APRN's Financials Paint a Bleak PictureAny serious look at the company's financials confirms its challenges. Bulls may point to the 54.3% reduction in the company's per-share losses that analysts, on average, forecast for this year. However, if APRN does meet that estimate, Blue Apron will lose $4.32 per share this year instead of the $9.45 per share of losses it sustained last year.Moreover, its losses only shrunk this year because it cut its spending on marketing. These spending cuts will probably help lower its 2019 revenue to analysts' average estimate of $473.31 million. Blue Apron's top line cam in at $667.6 million in 2018.As things stand now, Wall Street analysts expect the company to continue to lose money through at least 2023. However, Blue Apron stock will fall to $0 long before that time unless Blue Apron changes its course quickly. Perhaps the company can find a way to increase revenues despite its lower marketing spending. Also, Blue Apron could attract more business by finding a large partner like Walgreens. Still, unless something changes, APRNs results will likely continue to worsen. The Bottom Line on Blue Apron StockSo far, every short-lived rally by APRN stock has proven to have been a great time to sell the shares. Blue Apron stock's lack of traction may appear strange, as it remains a well-known name in a growing industry. Meal kits should continue to grow in popularity for the foreseeable future. However, nothing is proprietary about Blue Apron's approach. Consequently, players large and small have entered this business, leaving APRN without any apparent competitive advantage.Thus far, cutting marketing spending to save money has only led to lower revenues for APRN. It is not too late for a new, unique offering or a key alliance with a larger player to rescue APRN stock. Still, as things stand now, APRN stock has produced feasting for shorts and famine for longs.Unless the company makes significant changes soon, investors with bullish positions in Blue Apron stock could be forced to get their meal kits from a soup kitchen instead of from APRN.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Blue Apron Stock Continues to Leave Investors Famished appeared first on InvestorPlace.
The honeymoon phase is over for Beyond Meat as investors are starting to take a closer look at the stock and realizing it may not be worth its astronomical valuation.
With Beyond Meat (BYND) soaring at the market, J.P. Morgan upgraded the stock to “overweight,” a move discussed on CNBC’s “Halftime Report” Call of the Day, with some other thoughts on the meat substitute company. Following a recent pullback, BYND hits $189 on the price target (a $1 jump up) with plans to acquire more customers thanks to the strengths they see in their data. Conversely, if BYND can rapidly gather more consumers, showing that people decided the quality and growth is a sign to hang on, investors will buy the equity, regardless of recent quarterly earnings.
The bullish start to the week fizzled out on Tuesday, despite mostly-optimistic chatter. Credit Suisse's "recession dashboard" says there's not one in sight. "Key signals such as labor and credit trends remain quite healthy," explains Credit Suisse chief U.S. equity strategist Jonathan Golub.And, while he laments it, fund manager Kyle Bass made the case that central banks are going to continue doing anything and everything they can to keep the global economy propped up. JPMorgan's global head of quantitative and derivatives strategy Marko Kolanovic even went as far as saying last week's temporary inversion of the yield curve wasn't the cause for worry it might normally be.InvestorPlace - Stock Market News, Stock Advice & Trading TipsDisruption in Europe may have been the crux of the weakness. The United Kingdom may postpone the selection of the Bank of England's next governor until after Brexit, though Brexit itself remains up in the air. In Italy, Prime Minister Giuseppe Conte announced his resignation, simultaneously criticizing Deputy Prime Minister Matteo Salvini for calling for the no-confidence vote that led to his exit.Both cast a cloud of uncertainty over Europe, which was already struggling to maintain economic growth. * 10 Undervalued Stocks With Breakout Potential All told, the S&P 500 snapped a three-day win streak with its 0.53% setback on Tuesday. The Dow Jones Industrial Average wasn't quite as damaged, falling 0.37%, while the NASDAQ Composite ended the day 0.45% lower. Top News in the Stock Market TodayIt had little impact on shares, but it's a developing story that could matter more in the future. That is, on Tuesday, a string of personnel exits from the healthcare arm being developed by Apple (NASDAQ:AAPL) was thrust into the spotlight. The report named six key people who'd left the company in recent months, reportedly frustrated about the direction Apple's health business was moving. Some employees interviewed anonymously suggested tensions had been mounting for some time. The disruption calls into question how much traction Apple's health initiatives will garner in the foreseeable future.Walt Disney Company (NYSE:DIS) joined General Electric (NYSE:GE) as a recent accusee of misleading accounting, though in this case, the red flag is being waved by a former insider. Sandra Kuba, formerly a senior financial analyst with Disney that was terminated in 2017, suggested the entertainment giant had habitually reported more revenue than it had actually generated. Kuba went as far as to formally inform the Securities and Exchange Commission.Walt Disney denied the accusation, and given the small gain DIS stock mustered on an otherwise bearish day, investors aren't concerned.Investors are concerned about Sarepta Therapeutics (NASDAQ:SRPT), however, after the Food and Drug Administration responded to its most recent drug approval request with less than open arms. The FDA sent a so-called Complete Response Letter to Sarepta regarding concerns and questions it had about its Duchenne muscular dystrophy drug that's been in development for years.The letter is not a rejection, but it does suggest the FDA is so far unconvinced that the drug is worth greenlighting. SRPT stock fell more than 15% on the news. Big MoversDespite its clear capacity to put and keep itself in the spotlight, "meatless" meat company Beyond Meat (NASDAQ:BYND) hasn't impressed the analyst community. Until Tuesday, no analyst was willing to call the stock a "Buy" … that is, until today. JPMorgan analyst Ken Goldman upgraded BYND stock to that rating, explaining "We are encouraged that velocity -- sales per distribution point -- has been the primary driver of recent acceleration, as it suggests the products are catching on with consumers."The call pushed Beyond Meat shares up by more than 6%.It's not much of a household name, but for households that own a piece of electronics manufacturer Cemtrex (NASDAQ:CETX), that stake is worth 36% more today. Shares jumped nearly 30% in regular-hours action on Tuesday following an impressive second quarter report that saw an additional 6% advance in after-hours action. The promise of real profits within the next few quarters fanned the bullish flames.Not every big mover was necessarily a winner though. Madison Square Garden (NYSE:MSG) tumbled nearly 9% after the company's second-quarter bottom line fell short of estimates. Its new project in Las Vegas is proving costly but not fruitful.As of the time of this writing, James Brumley did not hold a position in any of the aforementioned securities. To learn more about James, visit his site at jamesbrumley.com, or follow him on twitter at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Stock Market Today: Beyond Meat Makes a Friend on Wall Street appeared first on InvestorPlace.
Faux-meat maker Beyond Meat might be OK to buy again, a JPMorgan analyst said, after a scorching IPO. The call sent the stock higher.
Investing.com – Beyond Meat (NASDAQ:BYND) rallied sharply Tuesday after JPMorgan upgraded its rating on the plant-based-burger maker, citing an attractive valuation following a steep decline in recent weeks.
Beyond Meat news for Tuesday about an upgrade for BYND stock has it on the rise today.Source: Sundry Photography / Shutterstock.com The upgrade for Beyond Meat (NASDAQ:BYND) comes from JPMorgan analyst Ken Goldman. A recent note from Goldman has him upgrading BYND stock from its previous rating of "Neutral" to a new rating of "Overweight."So what exactly is behind this change of tune from JPMorgan when it comes to BYND stock? There's actually a few reasons that Goldman believes make Beyond Meat worth its new "Neutral" rating.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFirst off, he notes that the company has seen its valuation improve as it gains new deals and sees earnings increase. He also says that data about the company suggest that it is performing well with customers. The analyst finally points out that there is still plenty of potential for it to strike deals with food companies, reports MarketsInsider.That last point is one that appears to be easy to see for just about anyone follow Beyond Meat news. The company's recent deals include its Beyond Burgers showing up in both Hello Fresh and Blue Apron (NYSE:APRN) meal kits. * 10 Undervalued Stocks With Breakout Potential There are also other partnerships with fast food chain's as well. Among these is one with Subway for a Meatless Meatball Marinara sub. It also has a deal with Restaurant Brands International's (NYSE:QSR) Tim Hortons for its Beyond Breakfast Sausage.BYND stock was up 5% as of noon Tuesday and is up 119% since its IPO back in May. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy As of this writing, William White did not hold a position in any of the aforementioned securities.The post Beyond Meat News: Why BYND Stock Is Surging Today appeared first on InvestorPlace.
Beyond Meat shares have risen today. The stock rose more than 7% in early market trading. J.P. Morgan upgraded the stock to “overweight” from “neutral.”
The alternative-meat company, Beyond Meat, has surged sixfold since its debut in May, but didn't have a single bull on the Street - until today. JPMorgan analyst Ken Goldman upgrading shares to overweight from neutral. Yahoo Finance’s Myles Udland, Heidi Chung, and Jen Rogers discuss.
Beyond Meat shares are on the rise. This comes after J.P. Morgan analyst Ken Goldman, upgraded the company’s stock to overweight from neutral — raising his price target by one dollar to $189 dollars. Yahoo Finance’s Adam Shapiro, Rick Newman and Heidi Chung discuss with Direxion Managing Director, and Head of Product, Dave Mazza.
Beyond Meat shares surging after JPMorgan upgraded the stock to overweight from neutral. The stock is down 40% from its peak, and analysts they think the stock is "appealing once again." Yahoo Finance's Dan Roberts, Scott Gamm, and Anjalee Khemlani.