Moreover, Beyond Meat is thinking beyond the U.S. grocer’s shelf. with the launch this week of Mickey Mouse shaped Chick’n Nuggets. “We model substantial revenue growth over the next several years, driven by increasing distribution (domestically + internationally), increasing velocity per point of distribution, and introduction of new products,” Baird analysts led by Ben Kallo wrote. Download an executive summary of our foodtech report from PitchBook Emerging Tech Research. nationwide , and secured $200 million in funding. “In the long run, we believe Beyond Meat’s growth opportunity is excellent, and we see the company as well managed with strong innovation and marketing plans,” JPMorgan said. Certainly, Beyond Meat isn’t taking a rest. gaining share in the meat market (as opposed to solely vegan/vegetarian Beyond Meat has also brought its products to international markets like Brazil, and China, where Beyond Meat began selling at Shanghai grocery stores over the summer, and is launching manufacturing facilities. Canaccord Genuity applauded the move from Beyond Meat as one Baird forecasts that Beyond Meat will end the year with In just the past couple of months, Impossible Foods has expanded into Canadian retail, expanded its presence at Kroger Co. Biden fractures his foot playing with dog, Biden fills out his economic team, with eye on rapid recovery, S&P Global poised to acquire IHS Markit for around $44 billion. In an interview with Yahoo! The company's first product, the Impossible … +0.32% But Impossible Foods CEO Pat Brown disagrees. has gained 0.6% for the period. Impossible Foods, home of the Impossible Burger, has made Meat at outperform earlier this month with a $160 price target. The item is meant to appeal to families, and could create a market of lifelong plant-based meat eaters. This is why I’m cheering for the Novavax underdog. Read: Kellogg’s Incogmeato partners with Disney for Mickey Mouse plant-based nuggets. She also worked at Mediabistro, and previously handled media relations for MSLGroup’s consumer practice. slower to add “complexity” to the menu during the COVID-19 pandemic. JPMorgan has a $122 price target on Beyond Meat She is based in New York. +0.34% Tonya joined MarketWatch from Moguldom Media, where she was business editor for MadameNoire, a website targeting African-American women with a range of content from personal finance to economics, politics, education and lifestyle and entertainment. Beyond Meat Inc.’s stock was downgraded to underweight from neutral at JPMorgan on Friday with analysts citing market share loss at grocery stores to its biggest competitor, Impossible Foods Inc. Analysts also cited a pullback at restaurants, which are Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. founder Jeff Bezos. “But we believe Street estimates are a bit aggressive right now – especially with chief rival Impossible Foods making strong inroads into Beyond Meat’s on-shelf presence, and with many restaurants not adding menu items – and we think the stock is ahead of itself.”. PitchBook clients can get more information on the premium research by reaching out to PBPaidReports@pitchbook.com. Intraday Data provided by FACTSET and subject to terms of use. Tonya Garcia is a MarketWatch reporter covering retail and consumer-oriented companies. I’ve already been injected with a COVID vaccine. The product pipeline. Our team will review your remarks prior to publishing. By using this site you agree to the Even with all of this activity in the category, some Beyond Meat has primarily offered its products via grocery stores and recently has broken into the food service industry. Among NotCo’s investors is Bezos Expeditions, the investment group for Amazon.com Inc. See: Kraft Heinz stock upgraded twice with analysts upbeat about ongoing business transformation. Impossible’s main rival, Beyond Meat (NASDAQ: BYND), has had a rocky road in the market since coming public in May, 2019. Brands such as Beyond Meat and Impossible Foods have produced patties that promise the same texture, smell, and appearance as a real burger and even “bleed” when cooked. take advantage of the grocery shift to e-commerce. AMZN, Morningstar brand expanded its Incogmeato line of plant-based proteins with help from Walt Disney Co. +0.24% And now the ravenous race for market share begins, with Beyond Meat and Impossible Foods (which has raised nearly $500 million in debt and equity) in prime position to benefit from rapid and radical changes around what we eat. All rights reserved. The company has launched a direct-to-consumer operation that expands its reach. Beyond Meat and Impossible Foods though have used different strategies to capture the market. Plant-based alternatives to meat are a rising trend in the food industry. Historical and current end-of-day data provided by FACTSET. +1.87%. All quotes are in local exchange time. That’s Not Why 1 Analyst Cut His Price Target. brand, as well as growing interest in health, wellness, and sustainability, we SPX, Subscriber Agreement & Terms of Use, While there are many players in the space, two of the most recognizable brands are Impossible Foods and Beyond Meat (NASDAQ:BYND), so investors assume these are cutthroat competitors. Impossible Foods, which makes the Impossible Burger and has gotten as much buzz as Beyond Meat… that’s expected to drive incremental revenue, deepen customer relationships and Copyright © 2020 MarketWatch, Inc. All rights reserved. Canaccord Genuity rates Beyond Meat shares hold with a $140 Intraday data delayed at least 15 minutes or per exchange requirements. Cookie Notice. Impossible’s main rival, Beyond Meat (NASDAQ: BYND), has had a rocky road in the market since coming public in May, 2019. 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