Beyond Meat Soars to Highs as Analyst Sees Upside to Outlook
- Credit Suisse sees more upside ahead on conservative outlook
- Other analysts warn buyers to wait as valuation now ‘lofty’
Packages of Beyond Meat Inc. beef crumbles.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Beyond Meat Inc. shares rallied to a record high Friday after the faux meat-maker’s inaugural earnings report impressed the Street and its better-than-expected annual outlook left even more room for possible gains, analysts said.
Beyond Meat shares soared as much as 36% to $135.80 each to a record high as of 9:39 a.m. in New York after its full-year sales outlook topped analyst expectations. The company said that the guidance was “very conservative,” and some analysts say potential upside leaves room for the stock to keep climbing.