‘Time to beef up’ — Bernstein upgrades Beyond Meat to outperform, sees 30% upside

Investing

A Beyond Burger, a vegan veggie burger, is seen at the Vedang fast food restaurant in the Mall of Berlin on May 18, 2019 in Berlin, Germany. With fast food chains such as Burger King, Chick-Fil-A, Taco Bell and Dunkin’ Donuts now offering ‘fake meat’ versions of their main meal options, the vegan burger industry is booming, as consumers look beyond real meat products out of health and environmental concerns.

Adam Berry | Getty Images

It’s finally “time to beef up” on Beyond Meat following the stock’s dramatic descent since late July as a more compelling price point and strong sales expectations make for a more enticing investment case, according to Bernstein.

Bernstein explained that its upgrade of Beyond Meat to outperform from market perform is in large part thanks to expectations of a 50% probability that McDonald’s partners with the plant-based burger company in the U.S.

Articles You May Like

Number of older adults who lost $100,000 or more to fraud has tripled since 2020, FTC says
Palo Alto Networks beat and raise fails to wow Wall Street. But that plays into our hand
Gen Z, millennial retail investors are tapping into ETFs, report finds. Here are things to watch out for, expert say
Target shares plunge 20% after discounter cuts forecast, posts biggest earnings miss in two years
The C.S. Lewis Quote That Could Transform Your Financial Future

Leave a Reply

Your email address will not be published. Required fields are marked *