Beyond Meat slides after underwriter downgrades stock via ReutersTV
- Shares of Beyond Meat Inc fell as much as 22% on Tuesday after one of the stock’s lead underwriters, J.P. Morgan, downgraded it, saying the exponential growth expected from the plant-based burger was now priced in.
Goldman raised price target for the second time in three days to $121, after raising it by $23 last Friday on the upbeat forecast. The launch of its meatier burger comes as it prepares to compete against new launches from Nestle, Tyson Foods Inc and Impossible Foods.
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