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UPDATE: Bernstein Downgrades Beyond Meat Inc. (BYND) to Market Perform

June 12, 2019 4:01 AM EDT
Get Alerts BYND Hot Sheet
Price: $14.56 +2.75%

Rating Summary:
    4 Buy, 15 Hold, 9 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 11
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(Updated - June 12, 2019 8:38 AM EDT)

(updated to add prior PT and analyst comment)

Bernstein downgraded Beyond Meat Inc. (NASDAQ: BYND) from Outperform to Market Perform with a price target of $123.00 (from $107.00)

  • Downgrades on valuation.
  • Follows JPMorgan downgrade yesterday also on valuation (LINK).
  • Says equity has been volatile due to limited float and now trades at nearly 31x EV/NTM sales which limits upside from valuation perspective.
  • Continues to expect material growth in plant-based meat category and sees company as well-positioned as a front-runner.

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 $126.04 yesterday.



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