'Time to beef up' — Bernstein upgrades Beyond Meat to outperform, sees 30% upside

A Beyond Burger, a vegan veggie burger, is seen at the Vedang fast food restaurant in the Mall of Berlin on May 18, 2019 in Berlin, Germany. With fast food chains such as Burger King, Chick-Fil-A, Taco Bell and Dunkin’ Donuts now offering ‘fake meat’ versions of their main meal options, the vegan burger industry is booming, as consumers look beyond real meat products out of health and environmental concerns.
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It's finally "time to beef up" on Beyond Meat following the stock's dramatic descent since late July as a more compelling price point and strong sales expectations make for a more enticing investment case, according to Bernstein.

Bernstein explained that its upgrade of Beyond Meat to outperform from market perform is in large part thanks to expectations of a 50% probability that McDonald's partners with the plant-based burger company in the U.S.