Is Beyond Meat About to Shoot 23% Higher?
Shares of alt-protein purveyor Beyond Meat (NASDAQ: BYND) have trounced the market so far this year, yet one analyst believes they still have plenty of upside. On Thursday, Baird analyst Ben Kallo initiated rather glowing coverage on the stock, with an outperform (i.e., buy) recommendation at a price target of $160 per share.
Kallo believes that Beyond Meat has several avenues to revenue growth, specifically "increasing distribution (domestically and internationally), increasing velocity per point of distribution, and introduction of new products," as he wrote in a research note.
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Source Fool.com
