The Beyond Meat (NASDAQ:BYND) stock has been the flavor of the week so far for investors owing to bullish forecasts from an analyst. The stock has managed to deliver gains of 16% so far this week and it might be time for investors to take a closer look at what the analyst had to say.
Alexia Howard from Bernstein gave a double upgrade to the stock and changed the raging to outperform from underperforming earlier on this week.
However, that is not all. She went on to set the stock target price for the plant-based meat company at $130 a share, which represents a considerable upside from its current levels. Like many other industries, Beyond Meat also struggled to owe to the coronavirus pandemic and its sales were hit hard. Howard has however stated that an imminent turnaround is expected in the food service industry and when that happens, Beyond Meat’s business is expected to turn around too.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.