Why Beyond Meat Stock Just Dropped 5%
This morning, a pair of analysts decided to downgrade Beyond Meat stock, with CFRA cutting the shares from hold to sell, and J.P. Morgan seconding the emotion with a cut from neutral to underweight (with a $122 price target on the $149 stock). Quoting from J.P. Morgan's report, which begins on a high note: "In the long run, we believe BYND's growth opportunity is excellent ..." "Street estimates are a bit aggressive right now," the analyst warns, "especially with chief rival Impossible Foods making strong inroads into Beyond's on-shelf presence."
