Beyond Meat stock rises on price target increase

Beyond Meat (BYND.US)– stock soared 6% after investment banker Piper Sandler raised its price target to $178 from $130, which is about $5 lower than what Beyond Meat shares currently cost. The hike follows its semiannual survey of teen likes and dislikes which showed that 47% of teens said they eat plant-based meat or are willing to try it. Piper noted that Gen Z (Americans born after 1996,) like plant-based protein more than other age groups which bodes well for growth at Beyond Meat.

Beyond Meat (BYND.US) stock price managed to break above the major resistance level at $.167.00 during yesterday session. Today, one can see that the upward move is being continued after US open. If sellers manage to uphold momentum, the upward move could be extended to the resistance at $201.58. Source: xStation5

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