BUZZ-Beyond Meat: JP Morgan downgrades to 'neutral' as shares overcook [Reuters (UK)]
Last beyond meat, inc. earnings: 7/29 04:01 pm
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BUZZ-Beyond Meat: JP Morgan downgrades to 'neutral' as shares overcook - Reuters 2 Min Read ** Shares of vegan burger maker Beyond Meat inch up 3.5% to $174 in early premarket trade even as JP Morgan downgrades to ‘neutral’ from ‘overweight’ ** Brokerage says BYND’s risk and reward now balanced; stock price beyond JP Morgan’s PT ** Up to Monday’s close, stock had rallied 6.7x of IPO price of $25 with market cap now at ~$10.1 bln ** Brokerage raises PT again to $121 after last Friday’s PT hike to $120 saying BYND’s “extraordinary revenue and profit potential” has now been priced in ** JP Morgan positive on co remaining highly favorable to the total addressable market for alternative meat ** But says less positive on competitors getting more aggressive ** Brokerage also less positive as elevated valuation could lead to meaningful correction in stock if any real or perceived hiccup in performance ** Stock floated in early May, more than doubled on IPO day ** All but one out of 7 brokers
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BYND
SEC Filings
- 10/1/19 - Form 3/A
- 10/1/19 - Form 3/A
- 9/27/19 - Form 3
- BYND's page on the SEC website
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