Street View: Beyond Meat's path beyond 2021 now looks bumpy

BYND Cannasoft Enterprises

06/08/2021 13:27

** Beyond Meat Inc  BYND.O  said on Thursday that
restaurants are placing "more conservative" orders for its
plant-based burgers due to uncertainty over the Delta variant,
leading the company to forecast Q3 rev below estimates
 urn:newsml:reuters.com:*:nL4N2PC3WH
    ** Shares down 4.1% at $116.81 premarket
    
    NOT A BROKEN STORY
    ** J.P.Morgan ("underweight," PT: $86) thinks that BYND is
not a broken story, but believes Street estimates are too high;
says longer-term concerns remain
    ** BTIG ("neutral") believes that "negative U.S. retail
velocity, coupled with distribution losses within foodservice,"
will limit BYND's growth in the near- and medium-term
    ** While co has made considerable gains with restaurant
partnerships in recent years, a rebound in sales growth could
take longer than expected - brokerage
    ** Bernstein ("outperform,: PT: $160) says that heading to
2022, the big question remains on the pace and extent of BYND's
sales momentum recovery in the U.S. 
    ** Adds that the opportunity to enhance international
expansion seems promising, especially once new plants in the
Netherlands and China are fully up and running
    ** Morningstar (fair value: $144) thinks BYND will continue
to be major player in the market, but visibility on the
durability of the brand in a quickly evolving marketplace is
still limited

 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))