Why Beyond Meat Stock Was Cookin' on Tuesday
Shares of Beyond Meat (NASDAQ: BYND) surged sharply higher Tuesday, jumping as much as 9.1%. As of 1:31 p.m. ET, the stock was still up 8.2%.
The catalyst that sent the maker of plant-based meat substitutes higher was bullish commentary courtesy of a Wall Street analyst who believes the company has an opportunity just over the horizon.
Piper Sandler analyst Michael Lavery upgraded Beyond Meat from underweight (sell) to neutral (hold), while simultaneously raising his price target to $64 from $61. It's worth noting that he's is playing catch-up, since Beyond Meat stock had a closing price of $63.42 on Monday.
Source Fool.com
