Piper Sandler: Raises the target price of Beyond Meat to $64 and raises the rating to neutral

$Beyond Meat(BYND.US)$ Piper Sandler analyst Michael Lavery raised the target price of Beyond Meat (BYND.O) from $61 to $64, and upgraded the rating to neutral. The analyst said that industry insiders expect that at the end of the first quarter of 2022, the company will launch McPlant nationwide in the United States, which is earlier than previously expected. Piper Sandler has received generally positive feedback through limited channel surveys. Lavery said that the expected favorable factors related to McDonald's give us a better grasp of the target price-earnings ratio, and it is estimated that McPlant sales may reach 75 million US dollars. But he is still worried about price compression in food service and retail, and unfavorable profit prospects.

Article excerpted from the US Stock Research Agency