27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
One of Beyond Meat Inc's (NASDAQ:BYND) earliest bull analysts downgraded the stock on Tuesday.
The Analyst
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Ken Goldman downgraded the plant-based food maker's stock from Overweight to Neutral with a price target lowered from $138 to $134.
The Thesis
Goldman was among the first Street analysts to initiate coverage of Beyond Meat's stock with a bullish stance after its initial public offering last May, according to Business Insider. But this stance no longer applies as the stock offers a "more balanced risk/reward outlook" at current levels.
The analyst has beef with the Street's estimates for 2020 and 2021, which look to be overly conservative. Even at a more realistic outlook for the coming years, the stock's current level already "bakes in plenty of potentially good news."
In fact, Beyond Meat has the potential to solidify its status as a global leader in the plant-based food category this year by hitting $2 billion in sales, according to the analyst.
"When the stock was <$75 share just three weeks ago we felt confident in upside potential. but now, with a variety of optimistic news stories baked and the stock outperforming spx by 65% this month, think it is prudent to head for sideline once again," goldman wrote in the note. Shares of Beyond Meat were trading lower by 4.5% to $119.10 at time of publication. Related Links: Beyond Meat Burgers Are Coming To Denny'sPrice Action
4 ETFs You Won't Believe Hold Beyond Meat Stock
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.