Beyond Meat (BYND) Research Coverage Started at Sanford C. Bernstein

Beyond Meat (BYND) Research Coverage Started at Sanford C. Bernstein”

McDonald's is inching nearer to getting absolutely on board the meatless burger bandwagon with a brand new model in one in every of its largest worldwide markets.

The burger chain is now selling a vegan burger, the Big Vegan TS, in Germany, one of its five leading worldwide markets. The plant-based mostly protein development is rising quickly as customers search for methods to eat more healthy and scale back their environmental footprints. Unlike veggie burgers, which long had a mediocre reputation, the new proteins are created to look and taste like meat and to appeal to meat eaters as well as vegans and vegetarians.

Leading quick-meals chains and meals makers are being attentive to the pattern and determining methods to add the meatless, however meat-like, proteins to their menus. Other chains, including White Castle, Qdoba, Barebuger and others, are selling plant-based menu items as well.

Thanks to the success of its trial in St. Louis, Burger King will add the Impossible Whopper, a plant-based alternative to the classic Whopper, to all 7,200 of its USA restaurants by the end of 2019.

McDonald's has yet to announce if it would be bringing its new meatless burgers to the United States.

But the company seems to be proceeding with caution.

Shares of the plant-based burger maker were up about 6% early Wednesday, extending their gain to 235% since pricing at $25 on May 1, but are now trading lower by nearly 2% at $77.88 apiece.

California-based Impossible Foods makes plant-based products that taste like meat, dairy and fish. What's more, the African swine fever outbreak in China could drive up global meat prices, making plant-based burgers look more attractive, she added. The company will issue 8,800,000 shares at $19.00-$21.00 per share.

"It really is a time of unlimited growth" for the company, Beyond CEO Ethan Brown said last week.

About one in five US consumers has reduced their red meat consumption in the past year, according to market research firm Mintel. Globally, the market could grow from about $18.7 billion in 2018 to $23 billion in 2023, according to Euromonitor International.

Beyond Meat's red-hot stock-market debut comes despite the company not yet turning a profit.

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