Mizuho Reiterates Underperform Rating on Beyond Meat Inc. (BYND)

Mizuho analyst John Baumgartner reiterated an Underperform rating and $1.00 price target on Beyond Meat Inc. (NASDAQ: BYND).

The analyst commented: "Today's +23% intra-day move in BYND shares (vs. XLP's +1%) occurs on heavy volume coincident with a company update that, following "strong consumer response", the new sparkling protein drink Beyond Immerse is expanding with 4 additional flavors following an initial launch (1/15) of 3 flavors. Offerings are available exclusively on the direct-to-consumer Beyond Test Kitchen. Immerse features protein options at 10g and 20g & 7g of fiber with antioxidants and electrolytes. Although the U.S. retail protein drinks market is sizable (~$10B), we remain very skeptical of BYND's foray into the space given minimal traction from plant-based formulations. Further, we believe such efforts to diversify only reinforce the weak outlook for BYND's core plant-based meat category. We are skeptical of the degree of success in reframing the brand. Q4 is reported on 3/11, and we maintain a cautious outlook for FY26."

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 $0.95 yesterday.

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