Piper Sandler Reiterates Underweight Rating on Beyond Meat Inc. (BYND)

Piper Sandler analyst Michael Lavery reiterated an Underweight rating and $3.00 price target on Beyond Meat Inc. (NASDAQ: BYND).

The analyst commented, "Our latest Teen Survey (~13,500 respondents) included questions on plant-based meat, and teens' interest has stabilized somewhat after steady declines. Of teens we surveyed, 33% either consume or are open to consuming plant-based meat, up slightly from 32% in Spring 2024, but down from 35% in Fall 2023, 42% in Spring 2023, and 49% in Spring 2021. The percentage of teens who do eat plant-based meat but plan to consume less of it rose to 28% from 26% in our prior survey. Of teens who consume it, 39% have no brand preference, Impossible is the favorite of 30%, Beyond Meat the favorite of 16%, and Morningstar Farms (Kellanova) is preferred by 11%. Category momentum among young consumers is key to future growth, and weaker traction suggests BYND likely faces long-term challenges in addition to its near-term headwinds. It trades at a premium to OTLY, despite worse operating metrics."

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 $6.46 yesterday.

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