- The shares of Beyond Meat Inc. (NASDAQ: BYND) have received a $50 price target from Piper Sandler. These are the details.
The shares of Beyond Meat Inc. (NASDAQ: BYND) have received a $50 price target from Piper Sandler. And Piper Sandler analyst Michael Lavery reiterated a “Neutral” rating on the shares.
Lavery adjusted the rating after visiting several locations where the McPlant is in a test launch. And the contacts at these sites indicated mixed reviews when asked if if the sandwich was good and if it was popular.
“We received mixed reviews on both questions. Of those who had tried it, a few really liked it, a few were lukewarm, and several gave negative reviews,” wrote Lavery in a research note. “On its popularity, an equal number said yes as said no, with a few hedging in between. We still expect a national launch to come (likely 3Q21), but the mixed results of our checks suggest any such launch may likely be LTO. If so, there could be downside to our 2023 estimates, which currently reflect a more permanent launch.”
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