Shares of Beyond Meat Inc surged 27% on Friday after the vegan burger maker fore...
- Shares of Beyond Meat Inc surged 27% on Friday after the vegan burger maker forecast that sales would more than double overall in 2019 after they tripled in the first quarter.
The company is now set to be worth a whopping $7.36 billion, if current gains hold, after having started out with a $2.75 billion valuation on debut. “Post-trial adoption would offer upside to guidance,” Jefferies’ Kevin Grundy said. He also upped the price target to $105 from $85. Beyond Meat’s imitation meat patties and sausages made from ingredients like pea protein, coconut and canola oil, while a great alternative for consumers conscious of the environment, still needs to put in the work to get more takers as they cost much more than beef burgers.
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