Beyond Meat gets first buy rating as Bernstein sees 'alternative meat' industry worth $40 billion

If the alternative meat category follows a similar path to plant based beverages, like the rise in popularity of almond milk, the industry will boom, giving newly public companyBernstein said if Beyond Meat, known for its flagship produce the Beyond Burger, can secure a 5% market share, up from 2% today, this would imply sales of $2.0 billion in 2028. Beyond Meat's sales in 2018 were $88 million and in 2019 were $207 million.on the Nasdaq on May 2.

Bernstein's recommendation is the first rating for Beyond Meat by a major Wall Street firm. Bernstein initiated coverage of the alternative meat company as outperform with a target price of $81. Although currently unprofitable, Bernstein expects the profitability trend to improve in the next 3 to 5 years as the company gains scale. Bernstein applied a 7 times sales multiple to Beyond Meat's full year 2023 estimated sales and discounted it back at an 8.5% rate to reach its 1-year target price of $81.

Beyond Meat is not the only alternative-meat making competitor in the space. Impossible Foods is staking out its turf in the restaurant space and food giant's

Ok, but I treat meat specially (don't like to put it in a bad spot--trash).

Hey AOC , here is an excellent example of letting business find the alternative to your cow meat issues. I highly recommend you research financials, & capitalism rather than your police unforced plans of SocialismKills for success in America.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Beyond Meat CEO: We're focused on the meat industry, not other vegetarian optionsOn Thursday, Beyond Meat made its public market debut on the Nasdaq, trading under the symbol 'BYND.' Any true VEGAN looks at $BYND's product and throws up/Any non VEGAN looks at $BYND's product - and throws up. A real winning combination- NOT $BYND stock is at $60 for one reason only. SCAM erica's BIGFATUGLYBUBBLE is 10000% more bloated than SCAM erica's BIGFATUGLY people
Source: CNBC - 🏆 12. / 72 Read more »

Beyond Meat is getting the Silicon Valley treatment even though it's a food companyBeyond Meat is being valued at more than 40 times revenue, while most big food companies have price-to-sales multiples of less than two. it's a great time to short this bust.... And they dont even sell meat? After you buy the stock or eat the burgers 🍔 you feel like 💩‼️
Source: CNBC - 🏆 12. / 72 Read more »