Is Beyond Meat’s Stock Too High?

In Business

1.Is Beyond Meat’s Stock Too High?

Beyond Meat shares have surged more than 600% since the pricing of the company’s initial public offering on May 1. The plant-based burger maker — which has been the best performing US initial public offering of the year — sank more than 11% early Tuesday after analysts at JPMorgan downgraded the stock to “neutral” from “overweight.” The downgrade is “purely a valuation call,” wrote Ken Goldman and James Allen in a note out Tuesday titled, “Beyond Our Price Target.” Last week, the team raised its price target to $120 from $97 after Beyond Meat’s blockbuster earnings release.
https://markets.businessinsider.com/news/stocks/beyond-meat-stock-price-plunges-jpmorgan-downgrade-2019-6-1028269825

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