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Del Taco
- The stock of Beyond Meat has continued to rise sharply since its first-quarter earnings exceeded expectations on Thursday.
- Shares are now trading at over 550% more than their initial public offering price of May, set at $ 25.
- Wall Street has taken note and rebadessed the company's price targets and expectations.
- Look beyond the live meat trade.
Beyond Meat has continued to climb at a fast pace since the release of its first earnings report as a public company on Thursday.
Shares rose more than 20% Monday morning, trading above $ 170 each. They have now gained more than 550% since their $ 25 prize on May 1st.
The gains are hurting the short sellers who have seen their losses rise to more than $ 150 million when the stock jumped above $ 100 a share. On Friday, the stock closed at $ 138.65.
After Thursday's close, the company-based hamburger factories reported a slightly higher turnover than badysts' expectations, as well as a smaller loss than expected. The results prompted Wall Street badysts to re-evaluate their price targets and valuations for California-based El Segundo.
Credit Suisse's Robert Moskow and Jacob Nivasch raised their sales forecasts and raised their price target to $ 125 from $ 70 to $ 125, while JPMorgan's Kevin Grundy increased his target from $ 97 to $ 120.
Ken Goldman and James Allen of JPMorgan, in a note, wrote in a note, while Beyond Meat claimed $ 15 billion.
Insider Markets
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