By Christiana Sciaudone
Investing.com -- Beyond Meat (NASDAQ:BYND) fell almost 5% after getting dual downgrades on Friday.
JPMorgan Chase (NYSE:JPM) lowered its rating on the plant-based meat maker to underweight from neutral as the market's a little overexcited about the company.
"In the long run, we believe BYND’s growth opportunity is excellent, and we see the company as well managed with strong innovation and marketing plans. But we believe Street estimates are a bit aggressive right now," JPMorgan's Ken Goldman said in a note, according to StreetInsider.
Shares have doubled since the start of the year, and nearly tripled since March.
In addition, rival Impossible Foods is making strong inroads in stores where Beyond is already present, Goldman said. He set a price target on Beyond Meat of $122. The shares are currently trading around $149.79.
CFRA also downgraded Beyond Meat to sell from hold, according to StreetInsider.
The company has two buy ratings, eight holds and six sells, according to data compiled by Investing.com.