Wednesday, May 20, 2020

"Beyond Meat Gets a New Fan Who Says the Stock Can Rise 24%" (BYND)

And if governments begin mandating you eat their stuff, even higher.
(I'm just crabby because it was looking like a breakdown a couple days ago)

From Barron's, May 19:
Broker BTIG initiated coverage of Beyond Meat shares on Tuesday with a Buy rating and a Street-high $173 price target. It is a bullish call . The price target is almost 40% higher than the next highest analyst target price .

Shares (ticker: BYND) were higher on the news, rising 7.7% to $140.08 by midmorning. The stock always reacts to news flow more than company fundamentals. That is something bullish and bearish investors should take note of.

After recent gains, the stock has arrived at an interesting place. Only a few analysts, out of more than 20 , rate shares Buy and, with the exception of BTIG analyst Peter Saleh, they have price targets below where the stock trades. It appears that even the bulls see stock declines coming.

In fact, the average analyst price target is about $90 a share, about 35% below recent levels. That isn’t typical. The average analyst price target for stocks in the Dow Jones Industrial Average imply about a 13% gain. All but one stock in the Dow have price targets above where shares currently trade. Analysts expect stocks to go up over time....

In pre-market trade the stock is up $4.10 (3.01%) at $140.30 after closing yesterday at $136.20 +$6.17 (+4.75%)

Recently: May 18
Questions Americans Want Answered: Will The Bump In Beyond Meat's Sales Continue? (BYND)
May 14
Thinking Of Saying Goodbye To Beyond Meat (BYND)
Dear BYND, it's not you, it's me.
A bearish engulfing day yesterday followed by an uninspiring pre-market move higher today:

BYND Beyond Meat, Inc. daily Stock Chart