Motif FoodWorks Visit Increases Concerns About Beyond Meat Inc. (BYND) Market Share Gains - Piper Sandler

Piper Sandler analyst Michael Lavery reiterated a Neutral rating and $120.00 price target on Beyond Meat Inc. (NASDAQ: BYND) after meeting with Motif FoodWorks, a food technology company that creates ingredients for plant-based foods that aims to make plant-based foods better tasting and more appealing to more consumers using a synthetic biology (synbio) approach that Beyond has shunned. Synbio technology can be used to drive innovation that helps better replicate animal fat, allowing for more authentic fat textures (e.g. marbling), improving taste and texture in plant-based muscle proteins. Competitive products with synbio ingredients may be advantaged, given consumers' primary consideration is taste.

The analyst stated "We believe Motif could be able to help Beyond's peers make higher quality products, which may pose a risk to Beyond's market share ambitions. Impossible Foods, which uses synbio, has gained 5pp of share in the last year; Beyond's share has been flat. Consumers we surveyed primarily focus on taste (56%), nutrition (21%), and texture (10%) in plant based meat, and Beyond's competitors likely have more 'tools in the kit' if they are willing to use synbio-based ingredients to improve these traits."

For an analyst ratings summary and ratings history on Beyond Meat Inc. click here. For more ratings news on Beyond Meat Inc. click here.

Shares of Beyond Meat Inc. closed at $123.42 yesterday.

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