Market Overview

JPMorgan Downgrades Beyond Meat On Crazy Valuation

JPMorgan Downgrades Beyond Meat On Crazy Valuation

Shares of Beyond Meat Inc (NASDAQ: BYND) are trading lower after JPMorgan turned bearish on the plant-based food maker.

The Beyond Meat Analyst: Ken Goldman downgraded Beyond Meat's stock from Neutral to Underweight with an unchanged $122 price target.

The Beyond Meat Thesis: Beyond Meat's stock gained nearly 200% since its 2020 lows and this gain is "above and beyond" any semblance of rationality, even for a "good company" like Beyond Meat.

Meanwhile, Beyond faces growing competition from rivals like Impossible Foods, the analyst notes. In fact, Impossible Foods is fresh off a $200 million Series G funding round and is looking to expand research and development, increase manufacturing, and beef-up its retail presence in the U.S. and beyond.

Meanwhile, Goldman said restaurants are hesitant to offer plant-based alternatives in favor of operating a more lean kitchen.

Beyond Meat will remain a hotly debated stock over the coming months and years. Other experts, analysts, and investors share similar concerns Goldman expressed related to the stock's valuation, especially after a triple-digit percentage gain. But others are looking towards the long-term picture where plant-based meat alternatives will dominate the food market.

For example, UBS modeled in an April note that the plant-based food market will reach $50 billion in sales in 2025. Beyond Meat's sales would grow at a 40% compounded annual growth rate.

BYND Price Action: Shares of Beyond Meat were trading lower by 4.7% Friday morning at $148.87.

Related Links:

Beyond Meat's Share Price Fails To Reflect Risk, Analyst Says In Downgrade

The Innovative Companies That Could Dominate Plant-Based Food Market In 2030

Latest Ratings for BYND

Nov 2020CFRAMaintainsSell
Nov 2020Canaccord GenuityMaintainsHold
Nov 2020Piper SandlerUpgradesNeutralOverweight

View More Analyst Ratings for BYND
View the Latest Analyst Ratings


Related Articles (BYND)

View Comments and Join the Discussion!

Posted-In: food JPMorgan Ken GoldmanAnalyst Color Downgrades Price Target Top Stories Analyst Ratings Best of Benzinga

Latest Ratings

DEMorgan StanleyMaintains335.0
SBNYRaymond JamesMaintains138.0
CORTHC Wainwright & Co.Maintains32.0
AHEXYMorgan StanleyDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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