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Fly News Breaks for November 15, 2019
BYND
Nov 15, 2019 | 09:10 EDT
After hosting investors at Beyond Meat headquarters with CEO Ethan Brown and CFO Mark Nelson, William Blair analyst Jon Andersen says management reaffirmed the company's "fundamental underpinnings," including a large addressable market, positive consumer response to the brand and product line, and strategic partnerships with restaurants and retailers. The analyst believes demand for plant-based meat could eclipse plant-based milk levels given the "salient" health concerns regarding consumption of animal meat and the "compelling" environmental benefits associated with the removal of the animal from the protein production chain. While valuation could limit stock price appreciation in the near term, Andersen believes Beyond Meat shareholders "should be rewarded long term." The analyst keeps an Outperform rating on the shares.
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