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Why Oppenheimer’s Sidelined On Beyond Meat Ahead Of The Q2 Print

Beyond Meat Inc BYND 2.72% is scheduled to report its second-quarter results on Tuesday, Aug. 4.

Although the company’s longer-term prospects are bright, the stock has appreciated by 66% year-to-date, versus the S&P 500’s flattish performance, according to Oppenheimer.

The Beyond Meat Analyst: Rupesh Parikh maintained a Neutral rating on Beyond Meat, citing valuation as the reason for remaining on the sidelines.

The Beyond Meat Thesis: Recent partnerships with leading chains like Starbucks Corporation SBUX 0.88%Yum! Brands, Inc. YUM 3.47% and Dunkin Brands Group Inc DNKN 3.04% have solidified Beyond Meat’s global growth potential, Parikh said in a Thursday note. (See his track record here.)

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