DA Davidson Starts Beyond Meat Inc. (BYND) at Underperform

(Updated - September 6, 2019 4:44 AM EDT) (updated to add price target and analyst comment)

DA Davidson analyst Brian Holland initiates coverage on Beyond Meat Inc. (NASDAQ: BYND) with an Underperform rating, price target $130.00.

The analyst comments "We think Beyond Meat has achieved a significant breakthrough which legitimizes a nascent segment (plant based meat) within a $1.4T category (total meat); our thesis does not reflect a negative view of the company, the quality of its portfolio, or its ability to execute. Rather, our cautious approach to the total addressable market—specifically, fewer likely frequent purchasers of plant based meat as compared to milk given roughly half the number of non meat eaters versus lactose intolerant—informs long term forecasts we believe are lower than the consensus view."

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 $163.68 yesterday.

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