Why Beyond Meat Stock Was on Fire on Monday
Shares of Beyond Meat (NASDAQ: BYND) surged sharply higher Monday, jumping as much as 16.6%. As of 2:51 p.m. ET, the stock was still up 14.6%.
The catalyst that sent the maker of plant-based meat substitutes higher was a substantial upgrade from a Wall Street analyst.
Barclays analyst Benjamin Theurer gave Beyond Meat stock a rare double upgrade, to overweight (buy) from underweight (sell). At the same time, the analyst raised his price target on the shares to $80, up from $70. That represents potential gains for investors of more than 41% compared to Friday's closing price.
Source Fool.com