The firm downgraded the stock to "neutral" from "overweight" and kept its price target of $120. The alternative meat company reportedThe stock is "beyond our price target," J.P. Morgan analyst Ken Goldman said in the note to clients.
The share price has already exceeded the price target of every analyst on Wall Street and short sellers have lost more than $400 million betting against the plant-based burger maker's stock since it went public,"This downgrade is purely a valuation call," J.P. Morgan said. "As we wrote last week, 'At some point, the extraordinary revenue and profit potential embedded in BYND… will be priced in' – we think this day has arrived.
POP!!!
One of my friends, who has little to no knowledge in finance other than basic money management, told me to check out $BYND before the IPO as he believed it had potential and I completely ignored it. That 600% surge is now going to forever haunt me. Still, it’s now way overvalued.
DougKass So up another 50%
Beyond by $100.00 sure....
Beyond Meat is going to implode like J D Searle’s Breast implants!
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