Will Beyond Meat Be a $180 Stock?
Beyond Meat's (NASDAQ: BYND) stock is on a tear. Shares of the plant-based meat alternatives producer are up a sizzling 82% over the past month -- and one analyst firm expects the stock to rise another 36% in the months ahead.
Argus Research boosted its target price on Beyond Meat stock to $180 per share on Tuesday, up from its previous forecast of $130. Argus analysts say Beyond Meat will benefit from rising demand for meat substitutes among health- and eco-conscious consumers.
"We view Beyond Meat as the leading company in the plant-based protein space, with a widely recognized brand and prospects for continued market share growth," Argus wrote in a note to investors. "We expect demand for plant-based alternatives to meat to continue to grow, driven not only by consumer preferences for healthier food, but also by environmental concerns, especially among younger consumers."
Source Fool.com
