From Bloomberg, July 10:
Beyond Meat Inc. is at risk of being part of a food craze that could potentially sputter and continues to face heightened competition, according to a Citi analyst who initiated coverage with a sell rating.....MORE
Beyond Meat Inc. is at risk of being part of a food craze that could potentially sputter and continues to face heightened competition, according to a Citi analyst who initiated coverage with a sell rating.
Close to one-quarter of Americans are eating less meat now than last year, but they aren’t doing so out of moral opposition to eating animals for food, analyst Wendy Nicholson said. In fact, simulated meat products are “too close to the real thing” for some who are philosophically opposed to eating meat, she said.
“Plant-based meat could be a fad,” Nicholson said in a note. And while alt-meat products may be more environmentally friendly, they aren’t much healthier than real meat, she said.
Shares of El Segundo-based Beyond Meat fell as much as 7.4% Friday. They had jumped 87% this year through Thursday’s close. Eight of 20 analysts covering the company have a sell rating on the stock, while just three recommend buying it.
Nicholson said that the company’s Beyond Taco served at Del Taco, and Burger King’s Impossible Burger both “saw trends slow after an initial uptick in sales.”....
