Calls of the day: Boeing, Beyond Meat, Lululemon, Roku & more
Bernstein said the alternative meat based company will see rapid sales growth going forward.with an Outperform rating and target price of $81, which is 13x our FY20 sales estimate, vs. the 20x 2019 sales that the company is trading at today. Recent and planned expansions in production capacity look set to facilitate rapid sales growth in 2019 and beyond. If the alternative meat category develops along a similar path to plant-based beverages , then the total addressable market could be ~$40.
"Stephens said the stock might be volatile but the company is positioned well to see user growth., with an Overweight rating and $84 price target. The stock is likely to remain volatile , but we would use weakness as buying opportunities.
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