Analyst Calls for September 19th, 2019

On Thursday, Wall Street analysts provided coverage on:

Barclays initiated Beyond Meat (NASDAQ: BYND) as “overweight” and issued a price target of USD 185 per share.

“We estimate that BYND could reach a 4.5% market share of the global alternative meat industry, which itself could represent 10% of the global meat industry within a decade,” Barclays analyst Benjamin Theurer said. “There’s a big potential, both at the top and at the bottom: We expect growth to continue at high levels for upcoming years, and expect the company to achieve a 15% EBITDA margin by 2029, in line with its long-term guidance.”

Bernstein downgraded Costco (NASDAQ: COST) to “underperform” from “market perform,” but raised price target from USD 230 to USD 220 per share.

“We think valuation is too high and investors are likely overestimating the continuation of COST’s trend and/or pace of reinvigorated growth,” Bernstein’s Brandon Fletcher said in a note to clients Wednesday. “Potentially more aggressive competitor offerings in Convenience or Service ... draw away members in new ways.”

Morgan Stanley upgraded Twilio (NYSE: TWLO) to “overweight” from “equal weight” and increased the price target to USD 130 from USD 125 per share.

“Twilio is building out a next-gen communication platform, with multiple expansion markets still in their infancy. .. .We think Twilio has a significant opportunity in front of it, with an experienced management team, a strong platform and vision. We think the recent pullback misses that new applications growth can help extend the growth period for the name and help long term margin profile.”