Beyond Meat Inc. (BYND) Model Updated for Earnings at Argus Buy Rating Reiterated

Argus analyst John Staszak reiterated a Buy rating and $180.00 price target on Beyond Meat Inc. (NASDAQ: BYND) after updating the model slightly delayed after the company's August 4th report. The updated model now includes profits of $0.20 per share in 2020 and $0.56 in 2021.

The analyst stated "the company reported a lower-than-anticipated loss. Amid strong demand for groceries by stay-at-home families and coronavirus-related meat shortages, U.S. meat substitute volume was higher in 2Q20 than in the prior-year quarter. We view Beyond Meat as the leading company in the plant-based protein space, with a widely recognized brand and prospects for continued market share growth. We expect demand for plant-based alternatives to meat to continue to grow, driven not only by consumer preferences for healthier food, but also by environmental concerns, as modern industrialized meat production is increasingly recognized as harmful for the environment".

For an analyst ratings summary and ratings history on Beyond Meat Inc. click here. For more ratings news on Beyond Meat Inc. click here.

Shares of Beyond Meat Inc. closed at $127.38 yesterday.

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