Market Overview

Credit Suisse 'Unmooved' By Tyson's Challenge To Beyond Meat

Credit Suisse 'Unmooved' By Tyson's Challenge To Beyond Meat

Shares of Beyond Meat Inc (NASDAQ: BYND) traded lower Thursday after Tyson Foods, Inc. (NYSE: TSN) announced a competing plant-based food product.

The Analyst

Credit Suisse's Robert Moskow maintained a Neutral rating on Beyond Meat with an unchanged $125 price target.

The analyst maintained an Outperform on Tyson Foods with a $96 price target. 

The Thesis

Tyson Foods announced a new lineup of plant-based foods Thursday, including chicken nuggets and patties as well as a combination of meat and plant burgers and sausages. The announcement is consistent with the belief the plant-based meat category will see the entrance of multiple competitors.

Beyond Meat's products are "more revolutionary and broader" in terms of consumer appeal, which implies Tyson's products are not a "major threat," Moskow said in a Thursday note. (See his track record here.)

"Although competing hybrid burgers offer less saturated fat than the 100% plant-based products from Beyond and Impossible, they simply don’t taste as good in our experience," the analyst said. 

On Tyson's end, the inclusion of chicken alternative products is consistent with the company's scale and expertise in distribution, manufacturing and branding, Moskow said.

The product doesn't seem to be difficult to create, as pea-based alternatives to breaded chicken have existed for a long time, according to Credit Suisse.  

Price Action

Beyond Meat shares were down by 0.28% at the time of publication Thursday, while Tyson shares were up 0.68%. 

Related Links:

Raised & Rooted: Tyson Enters The Plant-Based Food Products Market

There's A Beyond Meat Shortage At Freebirds Restaurants

Latest Ratings for TSN

Jun 2019MaintainsOverweight
May 2019UpgradesHoldBuy
May 2019UpgradesHoldBuy

View More Analyst Ratings for TSN
View the Latest Analyst Ratings

Posted-In: Credit Suisse food Robert MoskowAnalyst Color Price Target Reiteration Analyst Ratings Best of Benzinga


Related Articles (TSN + BYND)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

38 Stocks Moving In Thursday's Mid-Day Session

Mid-Day Market Update: Coda Octopus Group Surges After Strong Q2 Results; Arcadia Biosciences Shares Slide