Barclays Positive on Beyond Meat (NASDAQ: BYND), Analyst Sees Positive Short-Term Share Price Reaction

Barclays analyst Ben Theurer is positive on Beyond Meat (NASDAQ: BYND) and expects a positive short-term share price reaction: "We continue to see significant long-term potential for Beyond in a market that we still see in the early innings of a likely long game."

As a reminder, MCD announced earlier today that McDonald’s will be conducting a 12-week test of a new plant-based burger called the P.L.T., which stands for Plant. Lettuce. Tomato. in 28 restaurants in Southwestern Ontario, starting September 30. The P.L.T. is made with a Beyond Meat® plant-based patty that has been crafted exclusively by McDonald’s, for McDonald’s. "The McDonald’s P.L.T. is a delicious, juicy, perfectly dressed plant-based burger, featuring a plant-based patty with no artificial colors, artificial flavors, or artificial preservatives, it’s a great-tasting “open wide and sink your teeth into it” sandwich. The P.L.T. will be priced at $6.49 CAD plus tax," the press release stated.

Barclays analyst adds: "it is likely going to be volatile in both ways depending on results and announcements like the one of today."

Shares of BYND trade up about +10% in mid-day trading.

You May Also Be Interested In

• Beyond Meat® Launches Beyond Steak® Filet at Wegmans and H-E-B
• BNP Paribas Exane Upgrades Novonesis A/S (NSISB:DC) to Neutral
• HSBC Downgrades Stellantis NV (STLA:IM) (STLA) to Reduce