A favourable boost to Beyond Meat Inc. (NASDAQ: BYND) came this week through a Jefferies recommendation. At the previous market close, the closing stock price was $148.11, with a volume of 4.0 million. Compare that to its average daily volume of 4.45M. Based on the current stock market value of $139.17, 62.82M shares are outstanding.

Rob Dickerson, an analyst at Jefferies, believes Beyond Meat demonstrates a sound capital structure and holds a pioneering position in the plant-based meat market. Besides, he noted that Beyond Meat products are now available in more stores, especially Walmart Inc. (NYSE: WMT). In the coming months, Beyond Meat plans to build a new research facility near LAX soon. Among its other activities, this center will develop partnerships, i.e., to create the menu of restaurants and product lines of packaged products.

As a result, Jefferies continues to recommend holding shares of BYND. This comment caused investors to perceive it as bullish, leading to a boom in BYND stock. As a whole, the recommendation would be more likely to consider the future Beyond Meat partnership potential.

Growing Beyond Meat’s audience can be one of the drivers of sales growth. In a step towards this aim, the BYND stock has partnered with McDonald’s Corporation, PepsiCo, Inc., and YUM! Brands, Inc., which owns the famous brands KFC, Pizza Hut, and Taco Bell.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free


Please enter your comment!
Please enter your name here