• 316
  • 46
  • Favorite

Beyond Meat stock dropped nearly 5% in morning trading

Tiger Newspress2021-09-16

Beyond Meat stock dropped nearly 5% in morning trading after Piper Sandler downgraded the company to an underweight rating.

Shares of Beyond Meat Inc. took a hit Thursday, after Piper Sandler analyst Michael Lavery turned bearish on the plant-based meat company, citing a weaker growth outlook and concern the outlook for foodservice sales may be overly optimistic.

Lavery downgraded the stock to underweight, after being at neutral for the past eight months. He cut his price target to $95, which is 14% below Wednesday's closing price, from $120.

"Beyond is an early leader in plant-based meat, but we believe its current all-channel retail momentum lags consensus expectations, and our foodservice estimates may be high, too," Lavery wrote in a note to clients.

He estimates that the company's U.S. retail sales fell by about 10% in the third quarter, with multi-outlet with convenience store channel sales down 8% and natural channel sales down 27%.

"Beyond's retail sales declines are worse than all of its food peers in our coverage besides B&G Foods," Lavery wrote. He rates B&G at neutral.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment46

  • AlanGoh
    ·2021-09-21
    Anyone knows of restaurants in Singapore that serve Beyond Meat dishes? :-) just wondering is there any ?
    Reply
    Report
    Fold Replies
    • AlanGoh
      Ok thanks. I will go and try.
      2021-09-21
      Reply
      Report
    • Ping2joseph
      Swensen and MosBurger
      2021-09-21
      Reply
      Report
  • JoelLee
    ·2021-09-18
    Reply and comment pls thx
    Reply
    Report
    Fold Replies
  • Ku9787
    ·2021-09-17
    Ok
    Reply
    Report
  • TaiWoeiHaur
    ·2021-09-17
    Good morning pls like 
    Reply
    Report
  • aibee
    ·2021-09-17
    [財迷] 
    Reply
    Report
  • Jeromelim
    ·2021-09-17
    upset with this stock, suppose to be potential growth 
    Reply
    Report
  • Gaga71
    ·2021-09-17
    Long way to go
    Reply
    Report
    Fold Replies
    • TKCat
      need more meat loving vegetarians
      2021-09-17
      Reply
      Report
  • ckpham8122
    ·2021-09-17
    Latest
    Reply
    Report
  • AnT
    ·2021-09-17
    Nice
    Reply
    Report
    Fold Replies
    • Ku9787
      yes
      2021-09-17
      Reply
      Report
    • bshian
      Yes
      2021-09-17
      Reply
      Report
  • JeffreyNeo
    ·2021-09-17
    1
    Reply
    Report
    Fold Replies
    • AnT
      2
      2021-09-17
      Reply
      Report
  • BotakTur
    ·2021-09-17
    Ok
    Reply
    Report
    Fold Replies
    • BotakTur
      Ok
      2021-09-17
      Reply
      Report
  • Harbourfront
    ·2021-09-17
    why
    Reply
    Report
    Fold Replies
    • Pschoa
      Hi
      2021-09-17
      Reply
      Report
  • JiaocyTi
    ·2021-09-17
    Chance
    Reply
    Report
    Fold Replies
    • JiaocyTi
      Opportunity
      2021-09-17
      Reply
      Report
  • AngelaChan
    ·2021-09-17
    Interesting ?
    Reply
    Report
    Fold Replies
    • doky
      ya.
      2021-09-17
      Reply
      Report
  • WjsdSGTi
    ·2021-09-17
    Good
    Reply
    Report
    Fold Replies
    • WjsdSGTi
      Chance
      2021-09-17
      Reply
      Report
    • Harbourfront
      why is that good?
      2021-09-17
      Reply
      Report
  • Alice156
    ·2021-09-17
    Pls like and comments
    Reply
    Report
    Fold Replies
    • Sheryl04
      ??
      2021-09-17
      Reply
      Report
  • Kalpana
    ·2021-09-17
    Ok
    Reply
    Report
    Fold Replies
    • NEWBIE
      interesting
      2021-09-17
      Reply
      Report
    • fourseas
      exciting
      2021-09-17
      Reply
      Report
  • Andrew210782
    ·2021-09-17
    Like
    Reply
    Report
  • linereps
    ·2021-09-17
    Uh oh
    Reply
    Report
  • claratan
    ·2021-09-17
    Wow ? ? ? 
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial