Beyond Meat Inc. stock fell 5.2% in Friday trading after the plant-based meat company was initiated at sell at CFRA with a $120 12-month target. Analyst Arun Sundaram expects Beyond Meat to face increased competition from large food companies. Tyson Foods Inc. and Kellogg Co. are among the businesses that have entered the space with their own plant-based alternatives. “We think larger packaged food companies will end up as the category leaders in the space given their vast global footprint and embedded relationships throughout the supply chain,” CFRA said. Beyond Meat stock has tumbled 34.6% over the last three months while the S&P 500 index is up 19.4% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Latest posts by Market Watch (see all)
- Hong Kong marks six months of pro-democracy demonstrations with massive rally - December 8, 2019
- Barron’s on MarketWatch: 5 stocks and 5 funds to ride the rally in small caps - December 8, 2019
- Elon Musk found not liable in British caver defamation trial - December 6, 2019