Beyond Meat Inc. was downgraded to market perform from outperform at Bernstein, but the shares still rose 2.7% in Wednesday premarket trading. The downgrade was based on valuation, with analysts highlighting trading "in a highly volatile manner since it s IPO likely due to its limited public float." Even with the downgrade, analysts are bullish. "Despite the valuation considerations, we continue to expect significant growth potential in the plant-based meat category and believe that Beyond Meat is well positioned as one of the front-runners leading the new wave of plant-based meat products," Bernstein wrote. Recent coverage of Beyond Meat has taken note of the soaring share price, market cap, cost to short sellers, and other issues. Beyond Meat stock has skyrocketed more than 90% over the past month, far outpacing the S&P 500 index , which has inched up 0.2% over the period.
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