Beyond Meat Inc. (BYND) Launching Research Campus for Partner Product Development - Jefferies
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Jefferies analyst Rob Dickerson reiterated a Hold rating and $140.00 price target on Beyond Meat Inc. (NASDAQ: BYND) after attending the company's analyst meeting and feeling better about the company's capital structure and ability to maintain its first mover advantage. The company also plans to co-develop product w/ larger JV partnerships on a new research campus.
The analyst stated "BYND plans to open late 2021/early 2022 a new 280k sq ft. research center located near LAX, where McDonald's (NYSE: MCD), Yum! Brands (NYSE: YUM), and PepsiCo (NASDAQ: PEP) will have in-house research facilities and test restaurants. The MCD branding strategy likely includes in store signage and co-marketing, but likely not a BYND branded product on the menu. Price of products key to successful launch. Potential to broaden offerings over time."
Shares of Beyond Meat Inc. closed at $143.57 yesterday.
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